P548 Teletext 548 Dec30 20:47:17 —— TAX ALLOWANCES:POST-BUDGET ————————— Main changes announced in the Budget: basic rate tax now 24p in the pound MIRAS unchanged at 15% married couple's allowance up £70 at £1,790 but remains at 15% relief personal allowances up £240 each 40% tax threshold up £1,200 @ £25,500 20% tax threshold up £700 @ £3,900 long-term care insurance schemes monthly contributions tax-exempt savers pay 5% less tax on interest ——————————————————————————————————1/10— What tax rate should you be paying? >> Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Dec30 20:47:41 —— TAX RATES: POST-BUDGET ————————————— All money earned after your personal allowance is subject to tax at 3 rates: TAX psi-Budget post-Budget 20% £1-£3,200 £1-£3,900 25% £3,201-£24,300 £3,901-£25,500 40% £24,301+ £25,501+ 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 Dec30 20:48:02 —— TAX ALLOWANCES: POST-BUDGET ———————— TYPE 1994/5 1995/6 1996/7 Undjt 65 £3,445 £3,525 £3,765 Age 65-74 £4,200 £4,630 £4,910 Age 75+ £4,370 £4,800 £5,090 Married £1,720 £1,720 £1,790 Age 65-74 £2,665 £2,995 £3,115 Age 75+ £2,705 £3,035 £3,155 Additional £1,720 £1,720 £1,790 Higher rates of allowances are cut by £1 for every £2 earns over £15,200. ——————————————————————————————————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 Dec30 20:48:19 ——— INHERITANCE TAX: POST-BUDGET —————— After certain deductions such as debts and funeral costs, tax is charged at 40% on estates worth £200,000+ which are 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 bz parents up to £5,000 Thjti is an annual £3,000 exemption Estates under £200k 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 Dec30 20:48:26 ———— 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. COT threshold now £6,300 from £6,000 See Inland Revenue leaflet CGT13/CGT16 ——————————————————————————————————5/10 October disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Dec30 20:48:54 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 198u 1986 Jan - 0.813 0.725 0.642 0.556 Feb - 0.806 0.718 0.629 0.551 March 0.886 0.802 0.712 0.614 0.549 April 0.848 0.777 0.690 0.581 0.534 May 0.835 0.770 0.684 0.573 0.531 June 0.830 0.766 0.679 0.570 0.532 July 0.830 0.756 0.681 0.573 0.536 Aug 0.829 0.748 0.666 0.569 0.531 Sept 0.830 0.741 p.662 0.570 0.524 Oct 0.821 0.735 0.652 0.567 0.522 Nov 0.812 0.728 0.647 0.562 0.509 Dec 0.816 0.724 0.648 0.560 0.504 ——————————————————————————————————6/10— October disposables follow >>> LOOSING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Dec30 20:49:09 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.498 0.450 0.350 0.254 0.151 Feb 0.492 0.445 0.340 0.246 0.144 March 0.489 0.439 0.334 0.234 0.140 April 0.472 0.416 0.311 0.197 0.125 May 0.470 0.411 0.303 0.187 0.122 June 0.470 0.405 0.298 0.182 0.117 July 0.472 0.404 p.297 0.181 0.120 Aug 0.467 0.388 0.294 0.169 0.117 Sept 0.463 0.382 0.285 0.159 0.113 Oct 0.456 0.368 0.275 0.150 0.109 Nov 0.449 0.362 0.264 0.152 0.105 Dec 0.450 0.358 0.261 0.153 0.104 ——————————————————————————————————7/10 October disposal tables follow >>> ALL ABOUT YOUR MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Dec30 20:49:25 ——————— COT: INFLATION ALLOWANCE —————— for October 1992 1993 1994 1995 Jan 0.105 0.086 0.060 0.026 Feb 0.099 0.079 0.054 0.020 March 0.096 0.075 0.051 0.016 April 0.079 0.065 0.039 0.005 May 0.075 0.062 0.035 0.001 June 0.075 0.062 0.035 0.000 July p.079 0.065 0.040 0.005 Aug 0.078 0.060 0.035 nil Sept 0.075 0.056 0.033 nil Oct 0.071 0.056 0.032 Nov 0.072 0.058 0.031 Dec 0.076 0.056 0.026 ——————————————————————————————————8/10 Novjmbjr figures out late December FAMILY FINANCE FEATURES p540 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Dec30 20:49:42 ————— 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 Dec30 20:49:59 ————— 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 LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!