# Income Tax (Trading and Other Income) Act 2005, Section 783AD: The individual's trading allowance


(1) For the purposes of this Chapter, an individual's trading allowance for a tax year is £1,000.
(2) The Treasury may by regulations amend subsection (1) so as to substitute a higher sum for the sum for the time being specified in that subsection.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/783AD (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-783AD
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.