Little-known £1,000 UK tax many on social media don't realise they face

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Finance experts have warned against a lesser-known tax that means you could unwittingly be hit with a bill or a penalty.

Free products sent by brands for reviews or promotions count as income and must be included when calculating whether they've exceeded the £1,000 tax-free threshold.

Influencers receiving items such as makeup palettes, tech gadgets, or designer handbags have been warned it isn't really "free".

If a creator earned £700 from sponsored posts, received £300 worth of free products, and made £200 from ad revenue, their total income is £1,200.

This would push them over the threshold and requiring Self Assessment registration by 5 October.

HMRC can impose penalties on creators who fail to declare this income, plus interest charges on late payments, potentially af