Policy paper
Income Tax: increasing the trading allowance
This tax information and impact note details legislation introduced to increase the income tax trading allowance to £3,000, for trades and miscellaneous income.
Documents
Details
From the tax year 2027 to 2028, this measure will increase the trading allowance from £1,000 to £3,000.
This will also increase the Income Tax self-assessment reporting threshold to £3,000.