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What is Trading allowance?
A £1,000 UK tax-free allowance for casual or self-employed income.
In the UK, you can earn up to £1,000 a year from self-employment or casual trading without needing to register or pay tax on it. This is the trading allowance.
Go over £1,000 and you generally need to register for Self Assessment and declare the income. You pay tax on the profit, not the total. Always check GOV.UK for your situation.
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