P548 Teletext 548 Dec22 23:23:12 ——— TAX ALLOWANCES ———————————————————— Personal allowance £3,445 Married couple's allowance £1,720 Can be split or allocated to the wife Additional personal allowance £1,720 Available to single mothers etc. Age allowance if gross income is no more than £14,200 is: AGE PERSONAL MARRIED COUPLE 64-74 £4,200 £2,46u 75+ £4,370 £2,50u ——————————————————————————————————1/10— What tax rate should you bj paying? >> MONEY NEWS UPDATED MON-FRI p:41 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:31:23 ———— TAX RATES ———————————————————————— All money earned after your personal allowance is then subject to taxation at three rates: TAXABLE INCOME TAX CHARGED £1-£3,000 @ 20% £3,001 - £23,700 @ 25% £23,701+ @ 40% If you think you are paying too much or too little tax you should refer to your tax office. ——————————————————————————————————2/10— Do you understand your tax code? >>>> MONEYFACTS SAVERS SELECTION p546 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:24:25 —————— TAX CODES IN YOUR PAYSLIP —————— The numbers show the allowance figure, the letter shows the type of allowance. L personal allowance for under 65s H includes the above, and married or additional personal allowance P personal allowance for ages 65-74 V includes above & married allowance T covers all other cases BR pay is being taxed at basic rate D pay is being taxed at higher rate K pension totals more than allowance NT no tax is taken from pay/pension ——————————————————————————————————3/10 Inheritance tax: what is it? >>>> MONEYFACTS SAVERS SELECTION p546 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:24:31 ——— INHERITANCE TAX ——————————————————— After certain deductions such as debts and funeral costs, tax is charged at 40% on any estate worth more than £150k Tax can bj payable on some gifts if they were made up to sjvjn years before death. However some escape taxation: Gifts of up to £250 per year Wedding gifts by parents up to £5,000 There is an annual £3,000 exemption See Inland Rjvjnuj leaflet IHT3 ——————————————————————————————————4/10— Capital Gains Tax: What's dui when >>> MONEYFACTS SAVERS SELECTION pu46 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:22:47 ———— CAPITAL GAINS TAX TABLES ————————— Indexation allowance is an adjustment for inflation when calculating your capital gains. To work it out: Find the month in which you bought the asset. Multiply the price you paid, by the figure shown for that month. Add the result to the original price. Deduct the total from the sale proceeds to get the capital gain. See Inland Rjvjnuj leaflet CGT13/CGT16 ——————————————————————————————————5/10 October disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p:41 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:32:22 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 Jan - p#716 pn633 p.555 Feb - 0.709 pn626 0.542 March 0.785 p.706 0.621 0.528 April 0.750 0.682 0.600 0.496 May 0.737 0.675 p.594 0.489 June 0.732 pn671 0.590 0.486 July 0.732 0.v62 0.591 0.489 Aug 0.731 0.655 0.577 0.485 Sept 0.732 0.648 0.574 0.486 Oct 0.724 0.642 0.564 p.483 Nov p.715 0.636 0.559 0.478 Dec 0.719 p.632 0.u60 p.476 ——————————————————————————————————6/10 October disposal tables follow >>> LOOKING FOR FINANCIAL ADVICE p543 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:22:18 ——————— COT: INFLATION ALLOWANCE —————— 1986 1987 1988 1989 Jan p.473 0.418 0.373 0.277 Feb 0.468 0.412 p.367 0.268 March p.466 p.410 0.362 p.263 April 0.452 0.393 0.340 0.241 May p.449 0.392 0.335 0.233 June p.450 p.3y2 0.330 p.229 July p.454 p.393 0.329 0.228 Aug 0.450 0.389 0.314 0.225 Sept p.442 p.385 p.308 0.216 Oct p.440 p#378 p.295 0.207 Nov 0.428 0.371 p.289 p.197 Dec p.423 0#373 p.286 p.194 ——————————————————————————————————7/10 October disposal tables follow >>> NEED SOME HELP? SEE ADVICE LINE p543 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:30:32 ——————— COT: INFLATION ALLOWANCE —————— 1990 1991 1992 1:93 Jan p#187 p.089 pn046 p.028 Feb 0.180 p.083 p.040 p.022 March p.168 p.079 0.037 0.018 April p.133 p.065 p.022 p.009 May p#124 p.pv2 p.018 0.00u June p.119 p.057 p.018 p.006 July p.118 p.060 p.022 p.008 Aug 0.107 0.057 0.021 p.004 Sept p.097 p.053 p.017 Nil Oct p.088 p.0u0 p.014 Nov 0.091 p.046 p.01u Dec 0.092 p.045 p.019 ——————————————————————————————————8/10 Tables are updated monthly around 15th FINANCIAL QUERY? WRITE TO US p543 Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:23:17 ————— INFLATION: Month-on-Month ——————— All items Excluding Mortgages 1992 1993 1992 1993 Jan 4.1% 1.7% un6% 3^2% Feb 4.1% 1.9% un6% 3.4% Mar 4.0% 1.9% 5.7% 3.5% Apr 4.3% 1.3% u.7% 2.9% May 4.3% 1.3% u.3% 2.8% Jun 3.9% 1^2% 4.8% 2.8% Jzl 3#?% 1.4% 4.4% 2.8% Aug 3.6% 1.7% 4^2% 3.1% Sip 3.6% 1.8% 4.0% 3#3% Oct 3.6% 1.4% 3.8% 2.8% Nov 3.0% 1.4% 3.6% 2.5% Dec 2^6% 3.7% ——————————————————————————————————9/10— Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Premium Bonds Your Money Savings IndexP548 Teletext 548 Dec22 23:23:24 ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1980 18^0% 1v.9% 1y81 11.9% 12^2% 1y82 8^6% 8.5% 1983 4.6% u.2% 1984 u.0% 4.4% 198u v.1% u.2% 1y86 s.4% 3n6% 1987 4^2% 3#7% 1y88 4.9% 4^6% 198: 7^8% u.9% 1990 y.5% 8.1% 1991 u.9% v.7% ——————————————————————————————————10/10 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p:43 Premium Bonds Your Money Savings Index