A MAN who was earning minimum wage just four months ago, said he now makes at least £7,000 a week, from an easy side hustle.
William Thomas said that when he has a £7,000 week, he panics, as he is not used to earning so little.
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The side hustler took to social media to reveal that a few months ago, he could not afford to live, but is now living the high life thanks to his side hustle.
In a TikTok video, William explained that he makes his money from digital marketing, which involves promoting other people’s products online, often through social media.
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William said that to learn all the he knows about digital marketing, he paid for an online course, which took him three weeks to complete.
Then, just seven days after implementing everything he learned in his course, he said he began to make money.
William said that in his best week, he earned a whopping £20,000 from digital marketing.
He said that it is possible to learn everything you need online for free, if you do not want to take a course.
The side-hustler said: “Making money online is so doable for literally anybody with a brain.
“Honestly there is really no excuse to be broke in 2024”.
William’s video, which was posted under the username @williamthomas, has like left many people impressed, as it has racked up over 1.7 million views on the video sharing platform.
TikTok users raced to the video’s comments section to share their thoughts.
One person said: “Woot woot!
“I love digital marketing & digital products!”
Another person said: “I love seeing your success.
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.
“Mines just starting and its the most amazing feeling ever.”
A third person said: “That’s amazing!”
A fourth added: “Massive congratulations”.
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