Hi all
Happy New Year
I'm struggling to find the definitive answer and hoping you may be able to help. Is the trading income allowance restricted for a short accounting period?
Many thanks for your help.
Replies (4)
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No, the length of the accounting period is irrelevant as the allowance applies for the taxyear, not the accounting period.
Tim is of course correct. Here is the legislation:-
https://www.legislation.gov.uk/ukpga/2017/32/schedule/3/enacted?view=plain
Basil.
A citation to a correct answer to a non-anonymous OP?
Basil you go straight to the top of the 2019 leader-board!