BIM86010 | TMIA – Computation Overview

Individuals can have relevant income from one trade, multiple trades, and from miscellaneous income, either on its own or in addition to other income. Different rules will apply depending on which sources of income individuals have and the level of that income.

If the total of an individual’s relevant income from any trades they carry on during the year and their miscellaneous income does not exceed the trading allowance, then they can claim full relief as explained in the section that follows.

If the total of an individual’s relevant income from any trades they carry on during the year and their miscellaneous income does exceed the trading allowance, then they can claim partial relief.

Depending on the sources of income they have, they will have a slightly different computation process as explained in the step-by-step guides given at:

BIM86011 Computation: Full Relief

BIM86015 Computation: Partial Relief: Examples