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Posted Wed, 26 Apr 2023 21:35:37 GMT by Eva
Hi Thank you for reading the post. I feel confused after I read 'How to fill in your tax return (2023)" 1) earn £1,020 from doing surveys 2)receive £213 from Company X. ( includes a reimbursement of £142 for an expense that I paid for, which the company reimbursed me for, and an additional reward of £71) I understand I need to file a self-assessment as the total miscellaneous income is over £1,000. Is it possible for me to claim both the £1,000 trading income allowances and £142 as an allowable expense ? When I go through 'How to fill in your tax return (2023)" ( ) in HMRC website , I see the following in Page TRG 8 , "Box 18 Total amount of allowable expenses If you use your £1,000 trading income allowance against your miscellaneous income or self-employment income do not include any amounts you had to spend to earn this miscellaneous income in box 18. " and I feel confused after reading. Thank you
Posted Thu, 04 May 2023 11:31:17 GMT by HMRC Admin 20
Hi Eva,

You can only claim one or the other.
If you claim the trading allowance of £1000, you cannot claim a deduction for any other expenses.
You would therefore decide which is more beneficial for you.

Thank you.

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