There are two £1,000 allowances which may be claimed instread of actual expenses for property and trading income.
These may be claimed from 6 April 2017.
See, Trading and Property Allowances
and you might like our guides to the different accounting systems for the self employed and landlords:
- Which system for me? See Cash or accruals accounting toolkit
- Which expenses for me? See Flat rate expenses or actual cost toolkit
Loving our content? 😍
Join thousands of accountants and advisers and their clients use www.rossmartin.co.uk as their primary TAX resource.
Register with us now (for free 😅) to receive our receive our FREE weekly SME Tax News updates.
