Posted in Income Tax
There are two separate £1,000 tax allowances for property and trading income that have been available to taxpayers since April 2017.
The £1,000 exemptions from tax apply to:
Taxpayers who make up to £1,000 income from self-employment, casual
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Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2018 even if no tax was due or the tax due was paid on
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Landlords that receive letting income should notify HMRC by 5 October after the end of the tax year for which you start to receive that income. So, for the 2017-18 tax year that has just ended, HMRC needs to be notified by 5 October 2018 of any
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The Married Couple’s Allowance (MCA) is available to elderly married couples or those in a civil partnership, where at least one member of the couple were born before 6 April 1935 (i.e. at least 83 years old). The allowance provides for tax relief by
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