Thousands of Vinted sellers risk HMRC fines as the 'Thriftmas' season pushes many over the £1,000 tax threshold. With a 50% rise in 'Vinted pros' since last year, according to Google Trends, and over £2 billion spent on second-hand gifts last Christmas, many side hustlers may unknowingly need to file a Self-Assessment tax return.
Under current rules, anyone earning over £1,000 from self-employment, freelance work, or side hustles must register with HMRC and submit a tax return. This applies to sellers on Vinted, Depop, Etsy, as well as delivery drivers, content creators, and freelancers. Even those earning less are urged to keep records of income and expenses.
The deadline for online filing and payment for the 2024-25 tax year is midnight on January 31, 2026. With nearly 39% of Brits involved in at least one side hustle, earning an average of almost £11,000, hundreds of thousands could face penalties if they fail to check their obligations.
GoSimpleTax, a Self-Assessment software company, has launched a free online calculator to help side hustlers determine if they owe tax. The tool calculates take-home pay after Income Tax and National Insurance, allowing users to include business expenses for an estimated tax bill. Mike Parkes, Technical Director at GoSimpleTax, said: 'Side hustles are booming, but many people are unaware of their tax responsibilities. That £1,000 threshold is just £84 a month – easy to exceed without realising.'
