trading allowance

making tax digital

Do you need to pay tax on your small hobby-based business?

From 6th April 2017, a tax-free trading allowance of £1,000 was introduced to cover ‘self-starters’ with small hobby-based businesses. The allowance can be used against trading or casual income on hobby activities, which are in the process of developing into a commercial business. This may include selling via social media platforms for example, selling sweet

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