Sorry. You need to upgrade your browser

You are using Internet Explorer 8

This is considered an out of date browser. This website has been developed with modern browsers in mind to allow it to display at its best in a wide variety of viewing situations - including mobile viewing. But we haven't supported older browsers like IE8. Please upgrade to the latest version of Internet Explorer - or try Mozilla Firefox or Google Chrome. Both are excellent browsers.

Thank you.

Chartered Certified Accountants
and Business Advisors

01530 267320

Resources

Trade allowance

  • A Trade Allowance is available to individuals.
  • There is an equivalent rule for certain miscellaneous income. This will apply to the extent that the £1,000 trading allowance is not used against trading income.
  • The trade allowance is not available against partnership income.
Income up to £1,000 Profits assessable NIL
Income over £1,000 Election to deduct £1,000 allowance rather than the actual expenses
  • From 6 April 2017 a Trade Allowance of £1,000 per annum is introduced for individuals.
  • There will be an equivalent rule for certain miscellaneous income. This will apply to the extent that the £1,000 trading allowance is not used against trading income.
  • The trade allowance is not available against partnership income.
Income up to £1,000 Profits assessable NIL
Income over £1,000 Election to deduct £1,000 allowance rather than the actual expenses

 

Back to menu of allowances and rates

Latest news

Moving Accountants

Accountants are extremely important to the functioning and profitability of your company. As well as managing your busin...

Click to read more >

Limited Company or Sole Trade?

Many people decide to make the jump in their career ventures into going solo " when making this exciting new change it...

Click to read more >

How can we help?

 

Submit

Testimonial

I would not hesitate to recommend the team at Sence, regardless of how long you have been in business and irrespective of the size of your business.

Rebecca Hogarth
Rebecca Hogarth

Click to read the full testimonial >