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Let on Airbnb or sell on Ebay? guidance on the tax allowances....

11/04/2017

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Alexandra Carr , Senior Associate

The Government has recently published guidance relevant for people with property or trading income. If your gross trading or property income is below £1,000 and you’re not registered for Self Assessment, you won’t have to declare this income on a tax return, but you must keep a record of this income.

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You can get up to £1,000 a year tax-free allowances for property or trading income from 6 April 2017. If you have both types of income, you’ll get a £1,000 allowance for each.

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

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Alexandra Carr, Senior Associate

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