P548 Teletext 548 Jun24 22:17:18 —— TAX ALLOWANCES ————————————————————— Main changes for the 1995/6 tax year: MIRAS cut to 15% costing an average £10 a month more for homjownjrs 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 ——————————————————————————————————1/10— 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 Jun24 22:04:44 —— TAX RATES —————————————————————————— All money earned after your personal allowance is subject to tax at 3 rates: TAX INCOME BAND 94/5 INCOME BAND 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 or too little tax refer to your local tax office or if necessary your accountant. ——————————————————————————————————2/10— Do you understand your tax code? >>>> Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:11:00 —— TAX ALLOWANCES ————————————————————— 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,v65 £2,995 Age 75+ £2,70u £3,035 Additional £1,720 £1,720 Higher rates of allowances are cut by £1 for every £2 earns over £14,600. ——————————————————————————————————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 Jun24 22:15:15 ——— INHERITANCE TAX ——————————————————— 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 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 £154k are not taxed. ——————————————————————————————————4/10— See Inland Rjvjnuj leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:18:11 ———— 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, 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 CGT13/CGT16 ——————————————————————————————————5/10 April disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:11:48 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 1986 Jan ] 0.811 0.723 0n640 0.554 Feb - 0.803 0.716 0.627 0.549 March 0.883 0.800 0.710 0.612 0.547 April 0.846 0.775 0.688 0.578 0.532 May 0.833 0.768 0.681 0.571 0.529 June 0.828 0.763 0.677 0.u68 0.530 July 0.827 0.754 0.679 0.571 0.534 Aug 0.827 0.746 0.663 0.567 0.529 Sept 0.828 0.738 0.660 0.568 0.522 Oct 0.819 0.732 0n650 0.u65 0.519 Nov 0.810 0.726 0.645 0.560 0.507 Dec 0.813 0.722 0.646 0.558 0.402 ——————————————————————————————————6/10— May disposables follow >>> LOOKING FOR FINANCIAL ADVICE p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:02:27 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.496 0.448 0.348 0.252 0.149 Feb 0.490 0.443 0.338 0.245 0.143 March 0.487 0.437 0.332 0.232 0.139 April 0.470 0.414 0.309 0.196 0.124 May 0.468 0.409 0.301 0.185 0.121 June 0.468 0.403 0.296 0.181 0.116 July 0.470 0.402 0.295 0.180 0.118 Aug 0.465 0.386 0.292 0.168 0.116 Sept 0.461 0.380 0.283 0.157 0.111 Oct 0.454 0.366 0.273 0.148 0.107 Nov 0.447 0.360 0.262 0.151 0.103 Dec 0.448 0.356 0.259 0.152 0.102 ——————————————————————————————————7/10 May disposal tables follow >>> ALL ABOUT YOUR MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:01:39 ——————— COT: INFLATION ALLOWANCE —————— 1992 1993 1994 1995 Jan p.103 0^08u 0.059 0.025 Feb 0.098 0.078 0.053 0.018 March 0.094 0.074 0.050 0.014 April 0.078 0.064 0.037 0.004 May 0.074 0.060 0.034 - June 0.074 0.061 0.034 July 0.078 0.063 0.039 Aug 0.077 0.059 0.034 Sept 0.073 0.054 0.032 Oct 0.069 0.05u 0.030 Nov 0.071 0.0u6 0.030 Dec 0.075 0.054 0.025 ——————————————————————————————————8/10 June figures dui July 25 approx FAMILY FINANCE FEATURES p:40 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Jun24 22:11:15 ————— INFLATION: Month-on-Month ——————— 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% 2.6% May 1.3% 2.6% 3.4% 2.8% 2.5% 2.7% 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 Jun24 22:14:11 ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1980 18.0% 1v.9% 1981 11.9% 12n2% 1982 8^6% 8.5% 1983 4.6% u.2% 1984 u.0% 4.4% 1985 v.1% u.2% 1986 3.4% 3.6% 1987 4.2% 3.7% 1988 4.9% 4.6% 1989 7.8% u.9% 1990 y.5% 8.1% 1991 u.9% 6.7% ——————————————————————————————————10/10 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE p543 Bonds Your Money Saving It's Your Life!