People selling home-baked cakes from roadside cabinets could face tax bills, penalties and interest from HMRC if they have not registered for self-assessment, according to audit, tax and business advisory firm Blick Rothenberg, which pointed to the 5 October registration deadline.
Fiona Fernie, a partner at the firm, said sellers using an outdoor cabinet or “cake shed” need to be aware that HMRC has several ways of checking whether people with side-hustles are fully tax compliant.
She said: “Not registering for self-assessment when required to do so is a ‘half baked’ idea. HMRC can review council registration, and health & safety records.”
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