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  • Tax Free Trading Allowance

    Hello, My main job is taxed via PAYE, which puts me in the higher tax rate of 40%, however I also do some self employed work throughout the year as a second source of income - this is untaxed. My query is with the £1000 tax free trading allowance, my 2nd income from the self employed work exceeds this but am I correct in thinking I can claim the £1000 as expenses providing I do not claim for any other expenses on my self assessment? If so, do I simply enter £1000 in the "Total Allowable Expenses" section when detailing my self employed income? Thank you.