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If you’re self-employed, you can get up to £1,000 each tax year as a tax-free allowance: this is called the Trading Allowance.
Basically:
Very important to remember: if you claim the Trading Allowance, you cannot claim any other self-employment allowance (like mileage, home office, etc.) or expenses.
Landlords have a £1,000 similar property allowance. If you have both types of income, you’ll get a £1,000 allowance for each.
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