P548 Teletext 548 May31 2X:55:12 —— TAX ALLOWANCES ———————p————————p———— Main changes for the 1995/6 tax year: MIRAS cut to 15% costing an average £10 a month more for homeowners tax relief on married couple's, additional single parent/widow's allowance of £1,720 cut to 15% inflation-linked tax allowances PEPs linked to corporate bonds, convertible and preference shares reinvestment of TESSAs possible deferral of annuity purchase allowed ————————————————————————p—————————1/10p What tax rate should you bj paying? >> Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:43:41 —— TAX RATES ——p—————————p——————ppppp—p All money earned after your personal allowance is subject to tax at 3 rates: TAX INCOME BAND 94/5 INCOME B—ND 95/6 20% £1-£3,000 £1-£3,200 25% £3,001-£23,700 £3,201-£24,300 40% £23,700+ £24,300+ If you think you are paying too much ou too little tax refer to your local ta| office or if necessary your accountant. ——————————————————————————————————2/10— Do you understand your tax code? >>>> Download and Analyse Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:54:56 —— TAX ALLOWANCES ——————ppp———ppppppppp TYPE 1994/5 1995/6 Under 65 £3,445 £3,525 Age 65-74 £4,200 £4,630 Age 75+ £4,370 £4,800 Married £1,720 £1,720 Age 65-74 £2,665 0£2,995 Age 75+ £2,705 £3,035 Additional £1,720 £1,728 Higher rates of allowances are cut by £1 for every £2 earns over £14,608. ——————————————————————————————————3/10— Inheritance tax allowances & rates >> Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:41:17 ——— INHERITANCE TAX —————————————ppp——— After certain deductions such as debts and funeral costs, tax is charged at 40% on any estate worth more than £154k which is not passed on to the spouse. Tax can bj payable on some gifts if they were made up to seven years before death. However some escape taxation: Gifts of up to £250 per year Wedding gifts by parents up toA£5,000 There is an annual £3,000 exemption Estates under £154k are not taxed. ——————————————————————————————————4/10— See Inland Revenue leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:41:42 ———— CAPITAL GAINS TAX TABLES —————p——— 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 result to the original price. Deduct the total from the sale proceeds to get the capital gain. See Inland Rjvjnuj leaflet CGT23/CGT16 ——————————————————————————————————5/10 April disposal tables follow >> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:44:51 ——————— COT: INFLATION ALLOWANCE ppp——— 1982 1983 1984 1985 1986 Jan - p.804 p.716 0.634 0.548 Feb - 0.796 0.709 0.621 8.542 March 0.876 0.793 0.703 0.606 0.540 April 0.839 p.768 0.681 0.572 0.526 May 0.825 0.760 0.675 p.565 0.523 June 0.820 0.756 0.670 p.562 0.524 July 0.820 0.747 0.672 0.565 0.528 Aug 0.820 0.739 8.657 0.560 0.523 Sept 0.819 0.731 0.643 0.561 8.516 Oct 0.811 p.725 p.643 0.559 0.513 Nov 0.803 0.719 0.638 p.553 0.501 Dec 0.806 0.715 0.648 0.551 8.496 —————————————————————————————————p6/10— April disposables follow >> LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 2X:42:15 ——————— COT: INFLATION ALLOWANCE —pp——— 1987 1988 1989 1990 1991 Jan p.490 0.442 0.342 0.247 8.144 Feb 0.484 0.437 0.333 0.240 0.138 March 0.481 0.431 p.327 0.227 0.134 April 0.464 p.408 p.304 0.191 8.119 May 0.462 0.403 0.296 0.181 8.116 June 0.462 8.398 0.291 0.176 0.111 July 0.464 0.396 0.290 0.175 8.114 Aug 0.459 0.381 0.287 0.163 8.111 Sept 0.455 p.375 p.278 0.152 0.107 Oct 0.448 0.361 p.268 0.144 8.103 Nov 0.441 0.355 0.257 0.146 0.099 Dec 0.442 8.351 8.254 0.147 8.098 ——————————————————————————————————7/10 April disposal tables follow >>> ALL ABOUT YOUR MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:42:22 ——————— COT: INFLATION ALLOWANCE pppppp 1992 1993 1994 1995 Jan p.099 0.080 0.054 0.921 Feb 0.093 0.073 0.049 0.014 March 0.090 0.070 0.046 0.010 April 0.073 0.060 0.033 - May p.070 0.056 0.030 June 0.070 0.057 0.030 July 0.073 0.059 0.035 Aug 0.073 0.054 0.030 Sept 0.069 0.050 8.028 Oct 0.065 0.051 0.026 Nov 0.067 0.052 0.025 Dec p.070 0.050 8.021 ——————————————————————————————————8/10 May figures due June 25 approx FAMILY FINANCE FEATU5ES p54p Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 20:52:51 ————— INFLATION: Month-on-Month —pppp—p All items Exc Mortgages 1993 1994 1995 1993 1994 1995 Jul 1.4% 2.3% 2.8% 2.2% Aug 1.7% 2.4% 3.1% 2.3% Sip 1.8% 2.2% 3.3% 2.0% Oct 1.4% 2.4% 2.8% 2.0% Nov 1.4% 2.6% 2.5% 2.3% Dec 1.9% 2.9% 2.7% 2.5% Jan 1.7% 2.5% 3.3% 3.2% 2.8% 2.8% Feb 1.8% 2.4% 3.4% 3.4% 2.8% 2.7% Mar 1.9% 2.3% 3.5% 3.5% 2.4% 2.8% Apr 1.3% 2.6% 3.3% 2.9% 2.3% May 1.3% 2.6% 2.8% 2.5% Jun 1.2% 2.6% 2.8% 2.4% ——————————————————————————————————9/10— Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 May31 28:53:55 ————— INFLATION: Year-on-Year ——pppp——— 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 5.0% 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% ——————————————————————————————————10/10 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!