I earn £700 a day from my lazy side job – I’ve made £52k
ONE WOMAN told how she earns £700 a day from an easy sideline, with the produce selling itself.
After Mak (25) dropped out of college, she thought she would have to be a bartender forever. She believed she didn’t have the qualifications to do anything else.
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However, she revealed she has now earned a cool £52,000 from her side job and told viewers how they can get started.
The smart side hustler said that to get started, all you need to do is go to eRank.com, where you can find products that are currently popular and selling well on Etsy.
Next, create a free Canva account and use it to create a digital product.
Digital products are intangible goods, such as music, e-books and online courses.
Read more stories about extra income
For example, Mak has developed a digital budget planner that helps users achieve their savings goals.
After this, Mak told you to create an Etsy account and create a digital listing.
Upload your digital product to Etsy and add plenty of keywords in the description.
Set your price and quantity and click Publish.
“There are so many different types of digital products to sell,” said Mak, who revealed she has sold 2,084 products in total.
Once you create one digital product, you can sell it as many times as you want, so you can sit back and relax while you earn passive income.
Mak says she now spends her days in Italy drinking wine and can pay the rent in one day by selling digital products.
Her video, posted under the username @geldmetmakhas likely impressed many people, as the video has been viewed more than 6.6 million times on the video platform.
TikTok users rushed to the comments of the video to share their thoughts on her side job.
Do I have to pay tax on my additional income?
MANY people who are short of cash supplement their bank balance with a part-time job.
The good news is that there are plenty of easy ways to make some extra money, you just need to know the rules.
When you are employed, the company you work for withholds tax from your income and pays it to the tax authorities, so you don’t have to.
But if you want to make extra money, say by selling stuff online or walking dogs, you may have to do it yourself.
Stephen Moor, head of employment at law firm Ashfords, said: “Be careful if you earn additional income as this is likely to be taxable.
“The additional income can be classified as taxable income from trade, which can consist of providing services or selling products.”
You can earn a tax-free gross income of up to £1,000 per year through the trading exemption. However, you will usually have to pay tax on this amount.
Stephen added: “You should register for a self-assessment with HMRC to ensure you pay the correct amount of tax.
“The applicable tax brackets and the amount of tax you must pay depend on your income.”
If you don’t file a tax return, you may receive an unexpected bill from the tax authorities later asking you to pay the tax due, plus additional costs.
Someone said, “Wow, this is exactly what I’ve been looking for.”
A second person said: “That’s great. I hope for this kind of success.”
A third person said: “Digital products are in high demand right now.”
A fourth person added: “Oh this is so clever.”
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