• 2025/26
  • 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