Getting paid as a content creator to do sponsored social posts for a brand? Or perhaps you’ve started earning a side income from ads on your online videos or newsletter?
Whatever way you stop thumbs online, if you’re paid for it, this counts as something HMRC calls ‘trading’. And, you might need to pay tax on it.
You’re not alone, around 1-in-3 creators earn £1,500 a year from this side hustle [1]. If you earn more than £1,000 from your side hustle in a tax year (6 April to 5 April), you'll need to check your tax obligations.
You will also have to tell HMRC about any gifts you get from brands, for example if you were asked to promote them.
Simplifying tax
Tax can seem complex, but HMRC have made it simple with:
Visit https://taxhelpforhustles.campaign.gov.uk/tax-rules-content-creators/ for straightforward advice on managing your tax obligations.
Need more relevant resources?
Check out our Navigating tax as a content creator page which links to useful HMRC videos.
[1] SOURCE: The Keller Advisory Group, Creators Uncovered (2023) which surveyed U.S. content creators. The representative survey identified that 34% of content creators in the U.S. earns less than $2,000 dollars per year.
