Tools to help your business. Property and trade allowancesProperty allowanceA 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 NILIncome over £1,000: Election to deduct £1,000 rather than the actual expensesTrade allowanceA 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 NILIncome over £1,000: Election to deduct £1,000 allowance rather than the actual expenses Can you claim R&D Tax relief? At DMA, we have a track record of helping clients with all R & D tax issues. We can advise you precisely on what does/does not qualify for tax relief under R&D activities and under which R&D scheme. Life’s too short to be searching for stuff… Fortunately, DMA’s App means that you don’t have to. Get ALL your financial and tax information in one place and at all times – plus a great financial news feed! Register With Us Get better and faster communication and a whole range of free tools. Track your mileage, upload bills directly – and get technology that’s as on-the-move as you are. Demystifying Digital Tax We’ll show you how to use Making Tax Digital to your commercial advantage by streamlining your business processes. Making Tax Digital can be an opportunity to save time and money!
