Gig Economy/Side hussle Tax crackdown

[Nightmare Walking]

Selling records on Discogs?

That's what I was thinking.

 

[crublue1]

Absolutely nothing wrong with telling people who are earning an extra income online that they should pay tax on it. As always though, it's about what this government are choosing to focus on. Someone making 100 quid a month from a Youtube channel or selling a few items on Etsy, rather that someone (for example a new investor in Man Utd) dodging billions in tax.

And as for "You're not struggling because of bankers bonuses" people absolutely are struggling because of an economic system that is funnelling money to the already wealthy, allowing them to dodge taxes, and

Did you get the BBL first?

BBL?

 

[Coatigan]

You can oh dear all you like sugar tits. The point is correct and stands. Also the banker bonuses are taxed so totally fucking irrelevant to this thread.

So are footballers' salaries.

 

[crublue1]

And there lies the rub, it’s exactly as JOGAGIMOG states, this is intended for people increasing their income (that’s profit, not turnover) by thousands each year, and not paying tax on it.

It’s no different to people having to pay tax on second properties that are let out.

Keep calling me a **** all you like @crublue1 - it doesn’t change the fact that I’m correct on this.

I apologise for the insult.
Sometimes I get a bit irate when I see this government targeting people who are just trying their best, instead of going after the real tax evaders.
I respect you as a poster, we've had good coms in the past.
I'm man enough to admit I was out of order.
Take care

 

[Coatigan]

I apologise for the insult.
Sometimes I get a bit irate when I see this government targeting people who are just trying their best, instead of going after the real tax evaders.
I respect you as a poster, we've had good coms in the past.
I'm man enough to admit I was out of order.
Take care

As others have pointed out, that is just one interpretation, and there will no dobut be layers to it. Some poor fucker on the cusp of some set lower end limit will probably get done along the way, while others get away with more. But maybe some biggies might also get taxed. Or people might just get more careful and pay up properly just in case.

The question is will it be worth it, the (ironically taxpayers') money being used on this, will enough be recovered to make the spend worthwhile. I have no idea of how much money is in the 'gig' economy, or how easy it is to hide. All depends how well they use the resources. It is not crazy to assume they will piss it away.

 

[crublue1]

As others have pointed out, that is just one interpretation, and there will no dobut be layers to it. Some poor fucker on the cusp of some set lower end limit will probably get done along the way, while others get away with more. But maybe some biggies might also get taxed. Or people might just get more careful and pay up properly just in case.

The question is will it be worth it, the (ironically taxpayers') money being used on this, will enough be recovered to make the spend worthwhile. I have no idea of how much money is in the 'gig' economy, or how easy it is to hide. All depends how well they use the resources. It is not crazy to assume they will piss it away.

I'd say it would be crazy to assume they won't, given the track record..

 

[hcblue95]

Sorry you’re feeling the pinch but I do find it odd how often people bemoan bankers bonuses whilst watching some of the highest paid athletes in Europe each week.

Banker's bonuses are capped so that they don't go chasing bigger and bigger returns, crashing the economy and forcing Joe blogs to bail them out. If haaland tries to score every time he gets the ball we'd all be upset when we lose but people won't die due to aisterity.

 

[Eebo]

I'd love to see the Revenue go after the people who really deserve it - the drug dealers, gangsters, people smugglers, modern slavery gangmasters, covid fraudster etc etc. Just because something is illegal shouldn't mean you don't pay tax on it, and there are billions and billions of £'s to go after in the black economy.

The police would have a fair idea who they should look into first, and if you have a big house and car and can't properly prove it came from via legal means then the tax rate should be 100%.

But that would require some bottle and for them to go full on Elliot Ness vs Al Capone. So, as always, it is much easier to go after the generally law-abiding folk and hammer them for a minor infringement or mistake.

 

[hammocity]

Bounce back loan.

 

[BimboBob]

How would it work out if I sold my records collection? I would be looking at 30k+. But, I would still be selling it at a loss compared to what I have spent on it over the last 25 years.

I might be interested...

I would imagine selling it in bulk you'll be fine. Once you go individually on discogs then it's a business and taxed accordingly. Like it is now.