Updating post from Reddit.

1
QUESTION
Posted by GrassGoesMoo01 3 weeks ago
Can I claim both the property and trading allowances?

Can I claim both the property and trading allowances or do you just get one or the other?

2
3
Posted by itsonlymelee 3 weeks ago

Yes.

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

“You can get up to £1,000 each tax year in tax-free allowances for property or trading income from 6 April 2017. If you have both types of income, you’ll get a £1,000 allowance for each.”

Assuming you have property income AND income from trading.

Reply
0
Posted by Jakes_Snake_ 3 weeks ago

Not both against the rental income

Reply