CASH IN
I’m only 15 but already earn more than my parents – I haven’t left school yet & rake in £2k a month from my side-hustle
The savvy teen turned his hobby into a lucrative business
A CLEVER school student has revealed how he rakes in £2,000 a month after turning his hobby into a side-hustle.
Despite being just 15 years old, Shakir Hussain, already has his own design agency based and earns more than his parents.
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Shakir started his side-hustle selling Fortnite-themed art online and based his design agency on the popular game.
His proud parents have praised his entrepreneurial spirit - and say he's had a passion for cash from a very young age.
The school boy who lives in Birmingham, fits in the graphic work around his schooling and has not spent much of the money.
I certainly wasn't earning that at his age and I still don't.
Amjad Hussain
He said: “It’s amazing that I’m making so much money.
"I love playing Fortnite and it’s awesome that this hobby has given me a business as well as lots of fun.
";I love seeing the money come in and piling up in my savings.”
Charity worker Amjad, 38, said: "We're incredibly proud of him.
"He's always had a passion for making money and been good at it. He's helped me with charity fundraising since he was very young."
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Amjad added that his son was making more money than him.
"I certainly wasn't earning that at his age and I still don't - he's earned more in a day than I do in a week," he praised.
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Shakir, who lives with Amjad, mum Rifat Bibi, a nursery worker, and his younger sister, created Fortnite-themed graphics on an old computer and started selling on freelance platform Fiverr when he was 14.
He made a couple of pounds a piece.
The youngster then set up his own agency, Akito Media, when he was given his first iPhone for his 15th birthday, in November.
The youngster then set up his own agency, Akito Media, when he was given his first iPhone for his 15th birthday, in November.
The cash started rolling in when he began taking commissions and paying other artists to create the Fortnite pieces for him, via a platform called Discord.
Shakir made over £2,000 in January and February, and has nearly made £2,000 this month (22/3).
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 profit 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.
The lad has no immediate plans for his money and puts it all into his savings account.
Amjad said: "I get a message every time he's payed.
"He used to get a message here and there, earning a couple of pounds, then after we got him the iPhone it went crazy.
"Suddenly I was getting messages all the time, and the figures went up.
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"The biggest single sale so far is £280.
"He just has the mindset for making money but he's not bothered about spending it: I'm proud of him for earning it and for saving up."
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