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United Kingdom · Question · Written question

UIN 65352

Personal Income: Tax Allowances

Original

answeredUnited Kingdom· UK Parliament· EN

Introduced

7 July 2025

Last action

15 July 2025 · Answer

Status

Answered

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Discovery layer

Source updated

15 July 2025

Summary

To ask the Chancellor of the Exchequer, if she will make an estimate of the cost to the public purse of increasing the Trading Allowance to £3,000.

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Timeline

  1. 7 July 2025

    Written question

    To ask the Chancellor of the Exchequer, if she will make an estimate of the cost to the public purse of increasing the Trading Allowance to £3,000.

    Source: Commons

  2. 15 July 2025

    Answer

    The Trading Allowance allows individuals to earn up to £1,000 a year in trading or miscellaneous income tax-free, and this has not changed. The Government is increasing the Income Tax Self-Assessment reporting threshold from £1,000 to £3,000 gross within ...

    Source: Written answer

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