Over the past few years, a certain allowance for Sole Traders & those with property income has gone somewhat unnoticed. The £1000 allowance for expenses.

Many individuals may only trade slightly for a little bit of extra income and so do not have the expenses. If your expenses are below £1000, then you can use this allowance.

In the words of Tesco, every little helps. It could be worth as much as £320 in your pocket or potentially more.

For more allowances and guidance, don’t hesitate to contact us here at AME, we’ll make sure you wont miss any allowances again.

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income