P232 C AX@2@2/4@Z#^@40 00:05/40 1/4 MAIN PERSONAL ALLOWANCES Year to 5 April 1997 People Under 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@Over Personal Allowance £5,090 Married Couple's Allowance * £3,155 * Relief given at 15% CP RAT S OR MEN H VE MOVED TO Travel 430 News 101 Front page 100 Reliefs TaxIndjx UPI Main MenuP232 C AX 2@2/4@Sun@4: 21:k4/4/ 2/4 MAIN PERSONAL ALLOWANCES Year to 5 April 1998 People Under 65 Personal Allowance £4,045 Married Couple's Allowance * £1,830 People Aged 65-74 Personal Allowance £5,220 Married Couple's Allowance * £3,185 People Aged 75 and Over Personal Allowance £5,400 Married Couple's Allowance * £3,225 * Relief given at 15% CPA RATES FOR MEN HAVE MOVED TO 264 Travel 430 News 101 Front page 100 Reliefs TaxIndjx UPI Main MenuP232 AX@4@d/d@Su^@2: Jan 2s:03/04 3/4 U /"£££"£££"£££ THE MARRIED COUPLE'S ALLOWANC% A ai whoae@wife livesUwith him can clair this allowance. Whatever your rate of t1x, the rulief is even at 15% (reducing yo r tax bz up to £258 — £275 in 97/98 p if |wz re undjt 6u. A husda\d@a\d wife ca\ elSci to transfer the whole of the allowance to the wife. You must till the Inland Revenue you intend to do this brforu the tax year starts. A wife can claim one half of the allowance without hit hus"and'u qonsr/t Source: Ernst & Young (see page 271) ] CPA RATES F $ MEN HAVE MOVED TO 262 Rjliuf; T1xIndex C UPI BM0un ein4P232 C AX@4@4/4@Sk^@20 42:k2/,2 4/4 THE AGE ALLOWANCE People aged 65 qualify for higher allowances so long as "total income" does not exceed £15,200 in the year to 5 April 1y97 (£15,600 in 1997/98). Total income includes all income (except tax-erie income) less certain tax-deductible payments. If to al incom xc eds £15,200, then the age allowance is scaled down by £1 for every £2 of income until it reaches the amount of the basic pjrsonan allowance. So if in 1996/97 you earn £17,490 and you are aged 65-74 you will only get the basic personal allowance (if you are 75+ the figure is £17,850). Source: Ernst & Young (see page 271) CPA RATES FOR MEN HAVE MOVED TO 262 Reliefs TaxIndex UPI Main Menu