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Trading Income Allowance is a tax relief that was introduced by the UK government in 2017 to benefit small traders. It provides an opportunity for traders to earn extra income without having to pay tax on it. In this blog, we will discuss what Trading Income Allowance is, who is eligible for it, and how it can benefit traders . What is Trading Income Allowance? Trading Income Allowance is a tax relief that allows individuals to earn up to £1,000 tax-free income from trading activities each year. It was introduced by the UK government in 2017 to benefit small traders who may not earn enough income to justify registering for self-assessment or paying income tax. The allowance applies to income earned from trading activities, including self-employment income, income from casual trading, and income from a side hustle. However, it does not apply to income earned from dividends, interest, or rental income. Best Accountant in london Who is eligible for Trading Income Allowance? Trading Income