Could you be earning £1,000 tax free?

Are there any of the following allowances for small earnings that you could be taking advantage of?

1. The personal savings allowance:
   If you are a basic rate taxpayer, you can get up to £1,000 of interest tax free (this reduces to £500 for a higher rate taxpayer).
   You may also be eligible for the £5,000 of interest tax free (the starting rate for savings) depending on your other income.
   
   
2. The trading allowance:
   If your total income from all trades in the tax year is no more than £1,000 you will automatically qualify for this allowance so no tax will be payable on this. This includes trading income from self-employment or casual services, (e.g. babysitting or gardening).
   
   
3. The property income allowance:
   If your total income from all property businesses in the tax year is no more than £1,000 you will automatically qualify for this allowance so no tax will be payable on this.

If you jointly own a property you would each be eligible for the allowance against your share of the gross income.

You cannot however use this allowance on income from letting a room in your own home under the Rent a Room Scheme.