Small Businesses Annual Exempt Amount £1000

The trading allowance available to you means that if the income from your self-employment is less than £1,000 you do not need to report it to HMRC. So, if you earn a small amount of money from your small venture, for example, making and selling craft items, knitting garments, floristry, it is unlikely that you will need to tell HMRC.

But care needs to be taken every individual is only allowed one trading allowance across all sources of self-employment.

Lindsay will be happy to give you her advice, so give Lindsay a call on 07879 464 577 for a friendly chat.