At a glance guide. Subscribers see here for the full guide.

From 6 April 2017 individuals have benefitted from two new annual tax allowances of £1,000, the 'Trading and Property Allowances'.

The allowances are separate: one for trading or miscellaneous income and one for property income.

Key features

Trading allowance

Property allowance

Links to our useful guides

Allowances: Trading and Property
What are the trading and property allowances? Who can claim them? What are the restrictions?

Adviser guide: Property profits and losses
This guide should be read with our Property profit & losses tax toolkits: 

Flat (fixed) rate expenses or actual cost toolkit
What types of expenses can I use fixed-rate expense deductions for? Which is better, fixed-rate deductions or the actual cost?