30, January, 2026, LONDON \u2013<\/b><\/p>
Experts are warning Brits to check their tax liability ahead of the HMRC self-assessment deadline on 31 January, as new research by personal finance site Finder reveals that almost 2 in 5 UK adults (39%) are earning more than \u00a320 a week on average from their side hustle. This means they could exceed the \u00a31,000 yearly trading allowance.<\/p>
The research also reveals that 46% of Brits are making at least some money from a side hustle in 2026, up from 39% in 2025. <\/p>
A side hustle is defined as any casual job or business separate from your main job that aims to earn you extra income and the average income for a side hustle is now \u00a3872 a month.<\/p>
The main motivation for having a side hustle is a need for extra money to cover the day-to-day cost of living, given by 28% of side hustlers. Other popular motivations included building wealth for the future and saving for a specific financial goal such as buying a house (14%).<\/p>
The younger generations in particular are earning big from side hustles, so should be aware of the upcoming deadline with HMRC. 3 in 5 from generation Z (60%) and 55% of millennials reported earning \u00a320 a week or more from side hustles on average.<\/p>
Kate Steere, personal finance expert at the comparison site Finder, said:<\/b><\/p>
“Make sure you’re not caught out by your side hustle. The online Self-Assessment deadline is fast approaching, and all it takes is earning more than \u00a380 a month before you exceed your \u00a31,000 tax-free allowance. Last year, more than 1 million people missed the deadline to file their tax return. It’s important to be aware that a late filing penalty of \u00a3100 applies and additional fines or interest payments may apply the later you pay your tax bill.<\/p>
“To make sure things go smoothly, have your records to hand, including platform summaries (Etsy, Vinted, etc.). While you’re at it, why not give your future self a break by opening a dedicated business account? Separating your personal finances from your side hustle income will make the whole process that much smoother this time next year.”<\/p>","protected":false},"excerpt":{"rendered":"
Experts are warning Brits to check their tax liability ahead of the HMRC self-assessment deadline on 31 January.<\/p>\n","protected":false},"author":1312,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_opengraph-image":"","_yoast_wpseo_opengraph-image-id":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","_yoast_wpseo_twitter-image":"","_yoast_wpseo_twitter-image-id":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"post_is_fact_checked":"false","post_co_author":"-1","post_co_author_date":null,"post_co_author_manual_date_checked":"false","post_reviewer":"-1","post_reviewer_date":"","post_reviewer_manual_date_checked":"false","post_editor":"-1","post_editor_date":null,"post_author_date":"","post_author_manual_date_checked":"false","_last_updated_date_data":"{\"is_updated_date_published\":true,\"last_updated_date\":\"2026-08-12 15:05:34\",\"timezone_offset\":\" +00:00\",\"last_update_summary\":\"\"}","_last_major_update":"","_search_priority":0,"feature_finder_bot_teaser_enabled":false,"feature_finder_bot_teaser_message":"","feature_finder_bot_teaser_placeholder":"","feature_finder_bot_teaser_suggestions":"","footnotes":""},"categories":[3788],"tags":[],"asset_tag":[],"class_list":["post-579841","post","type-post","status-publish","format-standard","hentry","category-media"],"apple_news_notices":[],"yoast_head":"\n