• 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




This publication is published for the information of clients. It provides only an overview of the regulations in force at the date of publication and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this publication can be accepted by the authors or the firm.