F1PART 6AIncome charged under this Act: trading and property allowances
CHAPTER 2Property allowance
Basic definitions
783BDThe individual's property allowance
(1)
For the purposes of this Chapter, an individual's property allowance for a tax year is £1,000.
(2)
The Treasury may by regulations amend subsection (1) so as to substitute a higher sum for the sum for the time being specified in that subsection.