P548 Teletext 548 May20 23:18:32 —— TAX ALLOWANCES: wrom April 6 ppppppp 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 sta. Age allowance if gross income is no more than £14,200 is: AGE PERSONAL MAR TEDCOUPLE 65-74 £4,200 £2,665 75+ £4,370 £2,705 ——————————————————————————————————1/1p— What tax rate should you be paying? >> MONEY NEWS UPDATED MON-FRI p541 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:10:52 Q —— TAX RATES: from April 6 ———————————— All money earned after your personal allowance is then subject to taxation at three rates: TAXABLE INCOME T—X CH—RGED £0-£3,0090 @ C2x% £3,p01 ] £23,70p @ 26% £23,701+ @ 40% If you think you are paying too much ou 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 54< May20 23:11:10 I —————— TAX CODES IN YOUR P—YSLIP pp———p 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 person1l anlowpnce P personal allowance for ages 65-74 V includes above & married allowance T covers all other cases BR pay is being taxed 1t basia r1te 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 May20 23:11:30 T ——— INHERITANCE TAX ————p—————pppp————— After certain deductions such as debts and funeral costs, ta| is charged 1t 40% on any estate worth more than £150k which is not passed on to the spousr. Tbx can be payable on some gifts if they were made up to sjvjn years before death. However some escape taxation: Gifts of up to £250 pru yrar Wedding gifts by parents up toA£5,000 Thjte is an annual £3,000 exemption Estates under £150k are not taxed. ——————————————————————————————————4/10— See Inland Revenue leaflet IHT3 MONEYFACTS SAVERS SELECTION p546 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:11:50 Q ———— CAPITAL0G—IoU T—X V—bLES ppppppppp 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, bz the figure shown for that month. Add the reszlt to the original price. Deduct the total from the sale proceeds to get the capital gain. See Inland Revenue leaflet CGT13/CGT16 ——————————————————————————————————5/10 February disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS 8541 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:12:09 ——————— COT: INFLATION ALLOWANAE —pp——p 1982 1983 1984 1985 1986 Jan - 8.725 8.641 8.562 8.481 Feb - 0.718 0.634 0.550 0.475 March 0.794 0.714 p.629 0.536 0.473 April 0.758 p.691 p.608 0.504 0.459 May 0.746 0.684 0.602 0.497 0.456 June 0.741 0.680 0.598 0.494 0.457 July 0.740 8.671 p.599 8.496 X.461 Aug 0.740 0.663 p.584 0.492 0.457 Sept 0.741 0.656 0.581 0.493 0.450 Oct 0.732 8.650 0.572 0.491 0.447 Nov 0.724 p.644 0.567 0.486 8.435 Dec 0.727 p.640 0.568 p.484 0.430 ——————————————————————————————————6/10— March disposal tables follow >>> LOOKING FOR FNANCIAL ADVICE? p543 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:12:28 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan p.425 8.379 0.284 0.192 8.994 Feb 0.419 0.374 0.275 0.186 0.089 March 0.417 0.369 p.269 p.174 0.084 April 0.400 0.347 p.247 0.139 0.071 May 0.398 0.342 0.239 0.129 0.067 June 0.398 0.337 8.235 0.125 8.063 July 0.400 0.336 0.234 0.124 X.065 Aug 0.396 p.321 p.231 0.112 0.063 Sept 0.392 0.315 0.222 0.102 0.059 Oct 0.385 0.301 8.213 0.094 X.055 Nov 0.378 p.295 8.103 0.096 0.051 Dec 0.379 0.292 0.199 0.097 0.050 ——————————————————————————————————7/1p March disposal tables follow >>> NEED SOME HELP? SEE ADVICE NINE p543 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:19:33 ——————— COT: INFLATION ALLOWANCE p————— 1992 1993 199) Jan p.051 0.033 0.008 Feb 0.045 0.027 0.003 March p.042 0.023 - April p.p27 p.014 May 0.023 0.018 June p.023 0.011 July p.027 p.013 Aug p.026 p.008 Sept p.022 0.004 Oct p.019 0.005 Nov p.028 0.006 Dec 0.024 0.004 ——————————————————————————————————8/10 Tables are updated FINANCIAL QUERY WRITE TO US pz43 Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:19:53 ————— INFLATION: Month-on-Month ——————— All items Excluding Mortgage1 1992 1993 1994 1992 1993 1994 Apr 4.3% 1.3% 5.7% 2.9% May 4.3% 1.3% 5.3% 2.8% Jun 3.9% 1.2* 4.8% 2.8% Jul 3.7% 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% 1.9% 3.7% 2.7% Jan 4.1% 1.7% 2.5% 5.6% 3.2% 2.8% Feb 4.1% 1.=% 2.4% A 5.6%03.4% 2.=% Mar 4.0% 1.9% 2.3% u.7% 3.5% 2.4% ——————————————————————————————————9/1p— Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Premium Bonds Your Money Savings IndexP548 Teletext 548 May20 23:18:13 X ] ————— INFLATION: Year-on-Year ————pp——— YEAR All items Excluding Mortgages 1988 18.0% 16.9% 1981 11.9% 12W2% 1982 8.6% 8.5% 1983 4.6% 5.2% 1984 u.0% 4.4% 1985 6.1% 5.2% 1986 3.4% 3.6% 1987 4.2% 3.7% 1988 4.9% 4.6% 1989 7.8% 5.9% 1990 9.5% 8.1% 1991 u.9% 6.7% ——————————————————————————————————10/1p Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p543 Premium Bonds Your Money Savings Index