This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Business Income Manual

TMIA - Computation: Partial Relief: Miscellaneous Income

If the individual qualifies for partial relief and their relevant income for the tax year is all from Miscellaneous income, then the profit for the tax year is calculated using the following steps.


Step 1 – Calculate total Miscellaneous income:


Individuals should calculate their total amount of Miscellaneous income for the tax year.


Step 2 – Subtract the deductible amount from receipts:


Individuals then subtract the trading allowance from the total Miscellaneous income given in Step 1 above. They cannot also deduct any expenses that would otherwise be allowable.


This will leave them with a figure of taxable Miscellaneous income.


The amount subtracted under this step cannot be used to produce a miscellaneous income loss.