A WOMAN has revealed that she “accidentally” made £12,000 in just 25 days from a simple side hustle that she didn’t even mean to start.
Nilly shared details of her simple side hustle via a video posted to her TikTok channel, which she often uses to share money making advice.
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The TikToker explained that a few months ago, she was scrolling through online, and found a video of a woman saying that this side hustle was “changing lives”.
However, she said she thought it seemed “too good to be true”, as the woman’s weekly payouts were the same as Nilly’s yearly salary.
Nilly said that she had tried and failed at multiple other side hustles, so when she discovered affiliate marketing, she didn’t expect it to work and said she would have been happy with an extra £400 a month.
Since she had no idea what she was doing, Nilly paid for a three day course on digital marketing, and this taught her everything she needed to know.
“Those three days, blew my mind”, she said.
Affiliate Marketing involves promoting other people’s products online.
Affiliates get paid on commission, so every time someone buys something after clicking on a link Nilly has directed them to through her social media, she receives money.
At first, Nilly didn’t make any money, but then, she started posting about affiliate marketing online, and lots of people became interested.
From selling the course she had taken to other people, Nilly said she made £80 in commission at least 10 times a day.
“I knew I was making money, but I didn’t know how much”, she said.
After 15 days, Nilly was shocked when £12,000 was deposited into her PayPal account.
“It would have taken me six months to make that at my regular job”, she said.
Nilly’s video has likely left many people impressed, as it has gone viral, racking up 320,000 views on the video sharing platform.
TikTok users raced to the videos’ comments section, to share their thoughts on her side hustle.
Do I need to pay tax on my side hustle income?
MANY people feeling strapped for cash are boosting their bank balance with a side hustle.
The good news is, there are plenty of simple ways to earn some additional income – but you need to know the rules.
When you’re employed the company you work for takes the tax from your earnings and pays HMRC so you don’t have to.
But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves.
Stephen Moor, head of employment at law firm Ashfords, said: “Caution should be taken if you’re earning an additional income, as this is likely to be taxable.
“The side hustle could be treated as taxable trading income, which can include providing services or selling products.”
You can make a gross income of up to £1,000 a year tax-free via the trading allowance, but over this and you’ll usually need to pay tax.
Stephen added: “You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
“The applicable tax bands and the amount of tax you need to pay will depend on your income.”
If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe – plus extra fees on top.
One person said: “Affiliate marketing is where it’s at
Another person added: “I started my journey this week!”
A third chimed in: “So happy for you that you ended up starting it!”
A fourth remarked: “Awesome video”.
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