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Belfast - 02896 932929 | Banbridge - 028 4062 5427 | E-mail: reception@jonespeters.co.uk
A property allowance is available to individuals.
The property allowance will not apply to partnership income or to income on which rent a room relief is given.
Income up to £1,000: Property income assessable NIL Income over £1,000: Election to deduct £1,000 rather than the actual expenses
Income up to £1,000: Property income assessable NIL
Income over £1,000: Election to deduct £1,000 rather than the actual expenses
A trade allowance is available to individuals.
There is an equivalent rule for certain miscellaneous income. This will apply to the extent that the £1,000 trading allowance is not used against trading income.
The trade allowance is not available against partnership income.
Income up to £1,000: Profits assessable NIL Income over £1,000: Election to deduct £1,000 allowance rather than the actual expenses
Income up to £1,000: Profits assessable NIL
Income over £1,000: Election to deduct £1,000 allowance rather than the actual expenses
Research carried out by market research firm Censuswide has revealed that a third of business owners are planning to cut jobs as a result of rising employer National Insurance Contributions (NICs).
19 Jun 2025
Inflation in the UK eased to 3.4% last month, down slightly from April's 3.5%, according to the Office for National Statistics (ONS).
18 Jun 2025