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Tel: 01908 566362 - Email: [email protected]
We offer a range of high quality accounting, financial and business services in and around Milton Keynes.
A property allowance is available to individuals.
The property allowance will not apply to partnership income or to income on which rent a room relief is given.
Income up to £1,000: Property income assessable NIL Income over £1,000: Election to deduct £1,000 rather than the actual expenses
Income up to £1,000: Property income assessable NIL
Income over £1,000: Election to deduct £1,000 rather than the actual expenses
A trade allowance is available to individuals.
There is an equivalent rule for certain miscellaneous income. This will apply to the extent that the £1,000 trading allowance is not used against trading income.
The trade allowance is not available against partnership income.
Income up to £1,000: Profits assessable NIL Income over £1,000: Election to deduct £1,000 allowance rather than the actual expenses
Income up to £1,000: Profits assessable NIL
Income over £1,000: Election to deduct £1,000 allowance rather than the actual expenses
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Our handy tax calendar provides an overview of the key tax dates for your diary.
B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.
Keep up to date on the latest from the world of business and tax with our daily news stories.
01 May 2024
The British Chambers of Commerce (BCC) is concerned over the impact of new customs checks and charges on small firms in the UK.
30 Apr 2024
HMRC has launched a new online voluntary national insurance payment service.
29 Apr 2024
The Federation of Small Businesses (FSB) has called on the energy regulator Ofgem to 'take action' on the standing charges paid by UK small firms.
26 Apr 2024
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.