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Chartered Certified Accountants
and Business Advisors

01530 447999

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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

 

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Testimonial

It has been painless and helpful and I can now access my accounts on the go through my phone and even file all my receipts and expenses in real time as they happen.

Mark Cooper
Langley Consulting Limited

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