Tax Allowances
Commons · Question 106980 · Tabled 20 Jan 2026 · Treasury · Official record
Answered 28 Jan 2026
Question
Asked by Steve Barclay
To ask the Chancellor of the Exchequer, what estimate she has made of the number of people using the £1,000 tax free allowance for (a) trading and (b) property income in each of the last three years for which figures are available.
Answer
Answered by Dan Tomlinson, 28 Jan 2026
The tax-free allowances simplify the tax system and keep low levels of casual income out of taxation. Individuals with trading income or property income at £1,000 or below are not required to report the income and the use of allowances to HMRC through Sel...