P269 CEEFAX 269 Sun 15 May 23 51/13 7/6 O 2 TAX GUTDE 2 I j5 j j5j5 j 7££££££££££££££££££££££££££ £££££££££k INHERbTeNCE TpX 3how the top paying companies for a 8HT ia chprgjd on certain lifetime gifts,2on h w a th f hj e t t at death and on some trust dkalu.1 sai it yaid bj tha d.nRu eh n lh exsmptian fhrteh ld ix rtaahjda d c of j j s. 2 h am ta rat u h 6j p i d Thu5e are aom0anie5 3hiah kvfdZ g od Tot£u bu0 ar on y v ilablj topspOvjr £1gro50s. R4r5j j not q , $ k U Tepjrong relief for ch3rg on gifts within jvjn year of d ash: YR r R-2 3-4 4-525-6 6-7 2 CpA Anli 1y 8j : Fj 40 2 Source: Blay'5 Geed CPA Men CPA Wfmkn CPA Jkhnt PLA Rate5P269 CEEFAX 269 Sun 15 May 23:59/11 ] ^ 2/6 ,j5j5X05UIfE = EXEMPTIONS FR M INHERITANCE T X p 1993/4 1994/5 Gift pj dong £3, 00 £3, n Gifts pMs donje £ 5 0£252 Martiagj Gifts: from parent £5,000 £5,000 from grandparknt £2,500 £2,500 Com flom o Per e £1,t00 £1, 00 70 Gifts to indi6idual and certain trustb eh L 7 9Aars byfRat dj th. No IHT is pa:able on ztansfers t a surviving spouse. Source: Blay's Guider Annuities Economy CityHjads B utRatjuP269 CJEFAX 269 Sun 15 May 23:5Y/23 ] 3/6 O $AX K$IDE ( 'O.k/.I/L O, 3 )Q d p p bhbRbbb O$HI6 TBXJS 1994/; 4 Value Added Tax -astandard rate 17.5% m on domestic fuel <W0% Stamp Duty G m yhare; 8#5% 0 - land ttansfjts (£60k+) 1.0% Insurance Premium Tax Xmtom October 1994I p 2.9% p Vjhiale Nicuncj G m 82 nonvhs 393X'X Y Television Licence 0 m colour £84.50 amablacU and white £28.00 Annuities Esonomy Cit|HjadsFBjstRatesP269 CEEFAX 269 Sun 15 May 23:54/51 C TAX GjIDE PERSONAL ALLOW NCES In yr to 5 April Age 1994 1995 Pjrsonbl <65 £3,445 £3,445 Married Couple <65 £1,720 £1,720 Personal * 65-74 £4,200 £4,200 Married Couple* 65-74 £2,465 £2,665 Personbl * >75 £4,370 £4,370 Married Couple* >75 £2,505 £2,705 MC's relief held at 20% from 6/4/94 * Age allowances reduced bz £1 for every £2 of income >£14,200 to a minimum of basic £3,4451and £1n720. P269 CEEFAX 269 Sun 15 May 23:54/4 5/6 TAX GUIDE I PERSONAL ALLOWANCES YEA5 TO :QAPRJL ;994 1995 Widows bjreavjmjnt £1,720 £1.720 Additional Personal for 3inklu 8arunt; B£1,720 £1& Blind person £1,080 £1,200 MIRBS 0 m limit £30,000 £30,000 m rate 25% G 20% 2 Redundancy 8a9mdnt £30,000 0£30,000 Private medical insurance for o6ju 60s 40% & 25% 25% Charitable donations limit from pszroll £900 £990 Source: Blay'3 Guides Ann i i Ec n m H d 2 2P269 CEEFAX 269 Sun 15 May 23:50/40 ^F TAX GUIDE INCOME TAX 0 Taxable income in year to 5 Aprhl 0 to April 94 to April 95 RATE £0-£2,500 £0-£3,X00 2(% £2,501M£23,700 £3,001—£23,700 F 5% over £23,700 over £23,700 40% Husband & wife are taxed sjparatdly on their income. Both ha6e pe52knal and investment allowances. Before 5 April each year married couples can give notice to share the MCA equally or to allocate i5 all to one of them. Taxable income is income less pjrskn1l anlowance5. Source: Blay'u Guides