P548 Teletext 548 Jan 7 01:12:38 —— TAX ALLOWANCES: from April 6 ——————— Thjsj are the key Budget tax changes that come into effect in April 95. 20 per cent tax band widened to £3,200 Pensioner's personal allowance rising bz £430 Other changes set in motion last year will also conj into effect next April. Miras reduced to 15 per cent Tax relief on married allowance restricted to 15 per cent. ——————————————————————————————————1/11— What tax rate should you be paying? >> DOWNLOAD SHARES ON YOUR PC p532/533 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:49:25 —— TAX ALLOWANCES: from April 6 ——————— Personal allowance £3,445 Married couple's allowance £1,720 Can bj 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 65-74 £4,200 £2,665 75+ £4,370 £2,705 ——————————————————————————————————2/11— What tax rate should you be paying? >> CHASE DE VERE SAVERS ON PAGE 546 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:16:22 —— TAX RATES: from April 6 ———————————— All money earned after your personal allowance is then subject to taxation at three rates: TAXABLE INCOME TAX CHARGED £0-£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. ——————————————————————————————————3/11— Do you understand your tax code? >>>> DOWNLOAD SHARES ON YOUR PC p532/533 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:27:40 —————— 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 ——————————————————————————————————4/11 Inheritance tax: what is it? >>>> CHASE DE VERE SAVERS ON P—GE 546 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:44:17 ——— INHERITANCE TAX ——————————————————— After certain deductions such as debts and funeral costs, tax is charged at 40% on any estate worth more than £150k which is not passed on to the spouse. 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 Estates under £150k are not taxed. ——————————————————————————————————5/11— See Inland Revenue leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:44:37 ———— 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 Revenue leaflet CGT13/CGT16 ——————————————————————————————————6/11 Novjmbjr disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:14:39 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 1986 Jan - 0.759 p.673 0.593 8.510 Feb - 0.751 p.666 0.580 0.504 March 0.829 0.748 0.661 0.566 0.502 April 0.793 0.724 p.639 0.533 0.488 May 0.780 0.717 0.633 0.526 0.485 June 0.775 0.713 p.629 0.523 0.486 July 0.775 0.703 0.631 0.526 0.490 Aug 0.774 0.696 0.616 0.522 0.485 Sept 0.775 0.688 0.612 0.522 0.478 Oct 0.766 0.682 0.602 0.520 0.476 Nov 0.758 0.677 0.598 0.515 0.463 Dec 0.761 0.672 0.599 0.513 0.459 ——————————————————————————————————7/11— Novjmbjr disposables follow >>> LOOKING FOR FINANCIAL ADVICE? p543 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:44:51 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.453 0.407 0.309 0.216 0.116 Feb 0.447 0.401 0.300 0.209 0.110 March 0.444 0.396 0.294 0.197 0.106 April 0.427 0.373 0.271 0.161 0.092 May 0.426 0.368 0.263 0.151 0.088 June 0.426 0.363 0.259 0.147 0.084 July 0.427 0.362 0.258 0.146 0.086 Aug 0.423 0.347 0.255 0.134 0.084 Sept 0.419 0.340 0.246 0.124 0.079 Oct 0.412 0.327 0.237 0.115 0.075 Nov 0.405 0.321 0.226 0.118 0.072 Dec 0.407 0.317 0.223 0.119 ——————————————————————————————————8/11 Novjmbjr disposal tables follow >>> NEED SOME HELP? SEE ADVICE LINE p543 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:11:20 ——————— COT: INFLATION ALLOWANCE —————— 1992 1993 1994 Jan p.072 0.054 0.028 Feb 0.066 0.047 0.023 March 0.063 0.043 0.020 April 0.047 0.033 0.008 May 0.043 0.030 0.004 June p.043 0.030 0.004 July 0.047 0.033 0.009 Aug 0.046 0.028 0.004 Sept p.042 0.024 0.002 Oct 0.039 0.025 0.001 Nov p.040 0.026 - Dec 0.044 0.024 ——————————————————————————————————9/11 December figures expected Jan 20 approx MONEY NEWS UPDATED MON-FRI p541 Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:32:11 ————— INFLATION: Month-on-Month ——————— All items Exc Mortgagrs 1992 1993 1994 1992 1993 1994 Jul 3.7% 1.4% 2.3% 4.4% 2.8% 2.2% Aug 3.6% 1.7% 2.4% 4.2% 3.1% 2.3% Sip 3.6% 1.8% 2.2% 4.0% 3.3% 2.0% Oct 3.6% 1.4% 2.4% 3.8% 2.8% 2.0% Nov 3.0% 1.4% 2.6% 3.6% 2.5% 2.3% 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% 1.8% 2.4% 5.6% 3.4% 2.8% Mar 4.0% 1.9% 2.3% 5.7% 3.5% 2.4% Apr 4.3% 1.3% 2.6% 5.7% 2.9% 2.3% May 4.3% 1.3% 2.6% 5.3% 2.8% 2.5% Jun 3.9% 1.2% 2.6% 4.8% 2.8% 2.4% ——————————————————————————————————10/11 Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Prim Bonds Your Money Savings TV PlusP548 Teletext 548 Jan 7 01:45:10 ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1980 18.0% 16.9% 1981 11.9% 12.2% 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 5.9% 6.7% ——————————————————————————————————11/11 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p543 Prim Bonds Your Money Savings TV Plus