18 April 2017

HMRC has announced that anyone who has an annual gross income (before allowances or expenses) of £1,000 or less will be entitled to a tax-free trading allowance from 6 April 2017 and will not have to inform HMRC about this income. The money can be earned from self-employment, casual services (such as gardening) or the hire of personal equipment (such as power tools). Anyone who is newly self-employed and expects their annual gross income to be less than £1,000 will not have to register for tax self-assessment, although they can do so voluntarily, while anyone with self-employment income over £1,000 must register for self-assessment.

Read more about the allowance at:

https://www.gov.uk/government/publications/income-tax-new-tax-allowance-for-property-and-trading-income

Latest news filter

  • Category

  • Date (to/from)

Stay up to date with the latest news, business support, funding and events happening locally.

Newsletter sign-up






Serco, which delivers the Heart of the South West Growth Hub service, values your privacy. Your personal information will be kept confidential and will never be sold to third parties. By sending us this sign-up form you understand that we will only use your information to email you information about business support services and opportunities that are relevant to you.

Please leave this field empty.