Pi Accountancy Swindon

Did you know you could earn up to £1,000 without paying tax or reporting it to HMRC?

With the Trading Allowance, you can earn up to £1,000 per tax year from a side business.

If your total gross income is £1,000 or less, you do not need to report it to HMRC or pay tax on it.

Your total gross income is the total you earn before any expenses or other deductions.

However, if your income exceeds £1,000 per year, you must register for Self Assessment and submit a tax return to HMRC.