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+44 (0) 1252 728 598 | info@branstonadams.co.uk
A property allowance is available to individuals.
The property allowance will not apply to partnership income or to income on which rent a room relief is given.
Income up to £1,000: Property income assessable NIL Income over £1,000: Election to deduct £1,000 rather than the actual expenses
Income up to £1,000: Property income assessable NIL
Income over £1,000: Election to deduct £1,000 rather than the actual expenses
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
Income up to £1,000: Profits assessable NIL
Income over £1,000: Election to deduct £1,000 allowance rather than the actual expenses
07 Aug 2025
President Trump's decision to charge import duties for low value goods entering the US is a major blow to the UK's SME exporters, says the British Chambers of Commerce (BCC).
06 Aug 2025
Companies House is to roll out compulsory identity verification for company directors and people with significant control (PSCs) to help combat fraud and so-called phoenix companies.
05 Aug 2025
Economic confidence amongst the UK's business leaders has dropped to an all-time low, according to data from the Institute of Directors (IoD).
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