Stressed by tax?
Get Earnr Pro
Taxionary

Side Gig

[saɪd ɡɪɡ]

Term

Summary:

A Side Gig or side hustle, is a part-time job done alongside standard employment. It is a way to make extra income, or can just be a passion project.

More detail:

A Side Gig is a part-time job or business that individuals do alongside their regular employment. This may be done to supplement their income or just as a passion project.

Their flexibility has made them increasingly popular in the recent years. Some of the most popular Side Gigs include tutoring, food delivery services, selling products on e-commerce sites etc.

Income from Side Gigs is untaxed. Everybody is entitled to a tax-free allowance of £1000 but any income over that must be declared to HMRC. This is done by filing a Self Assessment.

At Earnr, we specialise at making that process easy and efficient so you can spend more time doing what you do best.

Back to Taxionary

You might also like...

decorative image for a blog

What is IR35 and do I need to worry about it?

There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.

Read more
decorative image for a blog

Flat rates for mileage vs actual expenses. What is better?

Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.

Read more
decorative image for a blog

What is the EIS and how does it work?

If you are looking to invest in small and medium sized businesses, the Enterprise Investment Scheme (EIS) provides lots of tax reliefs for doing so. Here we discuss what it is and how it works.

Read more
Earnr logoDownload earnr