P548 Teletext 548 Nov 3 23:17:44 —— 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 Nov 3 23:51:02 —— TBX RBTJS —————————————————————————— All money earned after your personal allowance is subject to tax at 3 rates: TBX 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 Nov 3 23:21:20 T —— 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 £2,665 £2,995 Age 75+ £2,705 £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 Nov 3 23:21:48 ——— 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 Revenue leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 3 23:37:59 ———— 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 CGT23/CGT16 ——————————————————————————————————5/10 August disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 3 23:36:18 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 1986 Jan - 0.815 0.726 0.644 0.557 Feb - 0.807 0.719 0.630 0.552 March 0.887 0.803 0.714 0.615 0.550 April 0.850 0.779 0.691 0.582 0.535 May 0.837 0.771 0.685 0.574 0.532 June 0.831 0.767 0.680 0.571 0.533 July 0.831 0.757 0.682 0.574 0.537 Aug 0.830 0.750 0.667 0.570 0.532 Sept 0.831 0.742 0.663 0.571 0.525 Oct 0.822 0.736 0.653 0.568 0.523 Nov 0.813 0.730 0.648 0.563 0.510 Dec 0.817 0.725 0.650 0.561 0.505 ——————————————————————————————————6/10— October disposables follow >>> LOOSING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!P548 $jletext 548 Nov 3 23:36:32 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.499 0.451 0.350 0.254 0.151 Feb 0.493 0.446 0.341 0.247 0.145 March 0.490 0.440 0.335 0.235 0.141 April 0.472 0.417 0.311 0.198 0.126 May 0.471 0.411 0.303 0.188 0.123 June 0.471 0.406 0.299 0.183 0.118 July 0.472 0.405 0.298 0.182 0.120 Aug 0.468 0.398 0.294 0.170 0.118 Sept 0.464 0.383 0.286 0.159 0.114 Oct 0.457 0.369 0.276 0.150 0.110 Nov 0.450 0.363 0.265 0.153 0.105 Dec 0.451 0.359 0.262 0.154 0.105 ——————————————————————————————————7/10 October disposal tables follow >>> ALL ABOUT YOU5 MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 3 23:05:50 ——————— COT: INFLATION ALLOWANCE —————— 1992 1993 1994 1995 Jan 0.105 0.087 0.061 0.027 Feb 0.100 0.080 0.055 0.020 March 0.097 0.076 0.052 0.016 April 0.080 0.066 0.040 0.006 May 0.076 0.062 0.036 0.002 June 0.076 0.063 0.036 0.001 July 0.080 0.065 0.041 0.005 Aug 0.079 0.061 0.036 - Sept 0.075 0.056 0.034 Oct 0.071 0.057 0.032 Nov 0.073 0.059 0.032 Dec 0.077 0.056 0.027 ——————————————————————————————————8/10 Novjmbjr figs dui after Budget on 28th FAMILY FINANCE FEATU5JS pu40 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 3 23:17:18 ————— INFLATION: Month-on-Month ——————— All items Exc Mortgages 1993 1994 1995 1993 1994 1995 Sip 1.8* 2.2% 3.9% 3.3% 2.0% 3.1% 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% 3.5) 2.8% 2.4% 2.8% Jul 1.2% 2.6% 3.5% 2.8% 2.2% 2.8% Aug 1.2% 2.6% 3.6% 2.8% 2.2% 2.9% ——————————————————————————————————9/10— Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 3 23:14:20 ————— 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 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 LOOSING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!