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HMRC has issued a £1,000 fine warning for millions of social media users and influencers. Content creators and social media influencers who fail to file their tax return from earning money or gifts online could face fines.

Social media influencers are raking in cash for partnerships and promotions - with the average social media earner now earning £1,223 a year.

But HMRC’s trading allowance is £1k . Heather Cobb, UK Managing Director at Tide, said: "It’s great that TikTok, Instagram and other social platforms have opened up new ways for people to add to their income, and what might start as a bit of extra pocket money can quickly spiral into a serious side hustle.

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“Most people won’t treat

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