P272 CEEFAX 2 272 Sun 01 Dec 23:15/49 1/4 MAIN PERSONAL ALLOWANCES Year to 5 April 1996 People Undjt 65 Personal Allowance £3,525 Married Couple's Allowance * £1,720 People Aged 65-74 Personal Allowance £4,630 Married Couple's Allowance * £2,995 People Aged 75 and Ovjt Personal Allowance £4,800 Married Couple's Allowance * £3,035 * Relief given at 15% CPA RATES FOR MEN HAVE MOVED TO 262 TV Listings 600 Front page 100 Reliefs TaxIndjx UPI Main MenuP272 CEEFAX 2 272 Sun 01 Dec 23:52/14 2/4 MAIN PERSONAL ALLOWANCES Year to 5 April 1997 People Undjt 65 Personal Allowance £3,765 Married Couple's Allowance * £1,790 People Aged 65-74 Personal Allowance £4,910 Married Couple's Allowance * £3,115 People Aged 75 and Ovjt Personal Allowance £5,090 Married Couple's Allowance * £3,155 * Relief given at 15% CPA RATES FOR MEN HAVE MOVED TO 262 Travel 430 News 101 Front page 100 Reliefs TaxIndex UPI Main MenuP272 CEEFAX 2 272 Sun 01 Dec 23:51/22 3/4 THE MARRIED COUPLE'S ALLOWANCE A man whose wife lives with him can claim this allowance. Whatevjt your rate of tax, the relief is given at 15% (reducing your tax bz up to £258 if you are undjt 65). A husband and wife can elect to transfer the whole of the allowance to the wife. You must tell the Inland Revenue you intend to do this before the tax year starts. A wife can claim one half of the allowance without hit husband's consent. Source: Ernst & Young (see page 271) CPA RATES FOR MEN HAVE MOVED TO 262 Reliefs TaxIndex UPI Main MenuP272 CEEFAX 2 272 Sun 01 Dec 23:51/12 4/4 THE AGE ALLOWANCE People aged 65 qualify for higher personal allowances so long as their "total income" does not exceed £14,600 in the year to 5 April 1996 (£15,200 in 1996/7). Total income includes all income (except tax-free income) less certain tax deductible payments. If your total income exceeds £14,600 then the age allowance is scaled down bz £1 for every £2 of income until it reaches the amount of the basic personal allowance. So if in 1995/6 you earn £16,810 and you are aged 65-74 you will only get the basic personal allowance (if you are 75+ the figure is £17,150). Source: Ernst & Young (see page 271) Reliefs TaxIndjx UPI Main Menu