P548 Teletext 548 Mar30 00:54:42 —— TAX ALLOWANCES:POST-BUDGET ————————— Main changes announced in the Budget: basic rate tax down to 24p in the £1 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 ——————————————————————————————————1/11— 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 Mar30 00:55:14 —— TAX RATES: POST-BUDGET ————————————— All money earned after your personal allowance is subject to tax at 3 rates: TAX pre-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. ——————————————————————————————————2/11— 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 Mar30 00:52:17 —— TAX ALLOWANCES: POST-BUDGET ———————— TYPE 1994/5 1995/6 1996/7 Under 65 £3,445 £3,555 £3,765 Age 65-74 £4,200 £4,630 £4,:10 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 bz £1 for every £2 earns over £15,200. ——————————————————————————————————3/11— 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 Mar30 00:54:34 ——— 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 There is an annual £3,000 exemption Estates under £200k are not taxed. ——————————————————————————————————4/11— See Inland Rjvjnuj leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:54:51 ———— 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 Rjvjnuj leaflet CGT13/CGT16 ——————————————————————————————————5/11 January disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:52:19 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 1986 Jan - 0.818 0.730 0.647 0.561 Feb - 0.810 0.722 0.634 0.555 March 0.891 0.807 0.717 0.61: 0.553 April 0.853 0.782 0.694 0.585 0.538 May 0.840 0.775 0.688 0.578 0.535 June 0.835 0.770 0.684 0.574 0.536 July 0.834 0.761 0.686 0.577 0.540 Aug 0.834 0.753 0.670 0.573 0.535 Sept 0.835 0.745 0.667 0.574 0.528 Oct 0.826 0.739 0.657 0.571 0.526 Nov 0.817 0.733 0.651 0.566 0.513 Dec 0.820 0.729 0.653 0.564 0.508 ——————————————————————————————————6/11— January disposables follow >>> LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:55:26 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1y8: 1990 1:91 Jan 0.502 0.454 0.353 0.257 0.154 Feb 0.4:6 0.448 0.343 0.250 0.147 March 0.4:3 0.443 0.337 0.237 0.143 April 0.475 0.420 0.314 0.201 0.128 May 0.474 0.414 0.306 0.190 0.125 June 0.474 0.409 0.302 0.185 0.120 July 0.475 0.408 0.300 0.185 0.123 Aug 0.471 0.392 0.2:7 0.173 0.120 Sept 0.467 0.386 0.288 0.162 0.116 Oct 0.460 0.372 0.278 0.153 0.112 Nov 0.453 0.365 0.268 0.155 0.108 Dec 0.454 0.362 0.264 0.156 0.107 ——————————————————————————————————7/11 January disposal tables follow >>> ALL ABOUT YOUR MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:57:53 ——————— COT: INFLATION ALLOWANCE —————— for January 1992 1993 1994 1995 Jan 0.108 0.089 0.063 0.029 Feb 0.102 0.082 0.057 0.022 March 0.099 0.078 0.054 0.018 April 0.082 0.068 0.042 0.008 May 0.078 0.064 0.038 0.004 June 0.078 0.065 0.038 0.003 July 0.082 0.068 0.043 0.007 Aug 0.081 0.063 0.038 0.002 Sept 0.077 0.058 0.036 Nil Oct 0.074 0.059 0.034 0.003 Nov 0.075 0.061 0.034 0.003 Dec 0.079 0.058 0.029 Nil ——————————————————————————————————8/11 February figures out late March FAMILY FINANCE FEATURES p540 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:57:55 ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1993 1994 1995 1993 1994 1995 Jan 1.7% 2.5% 3.3% 3.2% 2.8% 2.8% Feb 1^9% 2.4% 3.4% 3.4% 2.8% 2.7% Mar 1.9% 2.3% 3.4% 3.5% 2.4% 2.<% Apr 1.3% 2.6% 3.5% 2.9% 2.3% 2.6% May 1.3% 2.6% 3.4% 2.9% 2.5% 2.7% Jun 1^2* 2.6% 3.5% 2.8% 2.4% 2.<% Jul 1^4% 2.3% 3.5% 2.8% 2.5% 2.8% Aug 1.7% 2.4% 3.6% 2.8% 2.2% 2.9% Sip 1^8% 2.2% 3.9% 3.3% 2.0% 3.1% Oct 1^4% 2.4% 3.2% 2.9% 2^0% 2.9% Nov 1.4% 2.6% 3.1% 2.5% 2.3% 2.9% Dec 1.9% 2.9% 3.2% 2.7% 2.5% 3.0% ——————————————————————————————————9/11— Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:54:02 ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1:y6 1996 Jan 2.9% 2.<% Feb 2.7% 2.9% Government's inflation target is 2.5% ——————————————————————————————————10/11 Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 Mar30 00:54:25 ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1y80 18^0% 1v.9% 1y81 11.9% 12.2% 1y82 8^6% 8.5% 1y83 4^6% 5.5% 1y84 u.0% 4.4% 1y85 6.1% 5.2% 1y86 3.4% 3.6% 1987 4.2% 3.7% 1y88 4.9% 4.6% 1y8: 7.8% u.9% 1990 9.5% 8.1% 1991 u.9% 6.7% ——————————————————————————————————11/11 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!