P548 Teletext 548 May26 08:27:14 —— 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 ——————————————————————————————————1/12— 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 May26 08:11:17 —— 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 rifer to your local tax office or if necessary your accountant. —————————————————————————————————p2/12— Do you understand your tax cods? > Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:14:15 R —— 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 ovjt £15,200. ——————————————————————————————————3/12— 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 May26 08:18:18 ——— 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 be payable on some gifts if they wire made up to sjvjn years before death. However some escape taxation: Gifts of up to £250 pet year Wedding gifts by parents up to £5,000 There is an annual £3,000 exemption Estates under £200k are not taxed. ——————————————————————————————————4/12— See Inland Revenue leaflet IHT3 CHASE DE VERE SAVERS ON PAGE 546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:11:46 ———— 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 ——————————————————————————————————5/12 APRIL disposal tables follow >>> LATEST & NEW FINANCIAL PRODUCTS p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:12:24 ——————— COT: INFLATION ALLOWANCE —————— 1982 1983 1984 1985 1986 Jan - 0.847 0.757 0.673 0.585 Feb - 0.839 0.750 0.660 0.580 March 0.921 0.836 0.744 0.644 0.578 April 0.883 0.811 0.721 0.610 0.562 May 0.870 0.803 0.715 0.603 0.560 June 0.864 0.799 0.711 0.599 0.560 July 0.864 0.789 0.713 0.602 0.565 Aug 0.863 0.781 0.697 0.598 0.560 Sept 0.864 0.773 0.693 0.599 0.552 Oct 0.855 0.767 0.683 0.596 0.550 Nov 0.846 0.761 0.678 0.591 0.537 Dec 0.849 0.756 0.679 0.532 0.532 ——————————————————————————————————6/12— APRIL disposables follow >>> LOOSING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:18:12 ——————— COT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.526 0.477 0.375 0.277 0.172 Feb 0.520 0.472 0.365 0.270 0.166 March 0.517 0.466 0.359 0.257 0.161 April 0.499 0.442 0.335 0.220 0.147 May 0.498 0.437 0.327 0.209 0.143 June 0.498 0.432 0.322 0.204 0.138 July 0.499 0.430 0.321 0.203 0.141 Aug 0.495 0.414 0.318 0.191 0.138 Sept 0.490 0.408 0.309 0.180 0.134 Oct 0.483 0.394 0.299 0.171 0.130 Nov 0.476 0.387 0.288 0.174 0.125 Dec 0.477 0.383 0.285 0.175 0.125 ——————————————————————————————————7/12 APRIL disposal tables follow >>> ALL ABOUT YOUR MONEY p542 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:12:34 ——————— COT: INFLATION ALLOWANCE —————— 1992 1993 1994 1995 Jan 0.125 0.107 0.080 0.045 Feb 0.120 0.099 0.074 0.039 March 0.116 0.095 0.071 0.035 April 0.099 0.085 0.058 0.024 May 0.095 0.082 0.055 0.020 June 0.095 0.082 0.055 0.019 July 0.099 0.085 0.060 0.023 Aug 0.099 0.080 0.055 0.018 Sept 0.095 0.075 0.052 0.013 Oct 0.091 0.076 0.051 0.019 Nov 0.092 0.078 0.050 0.019 Dec 0.096 0.075 0.045 0.013 ——————————————————————————————————8/12 APRIL disposables follow >>> FAMILY FINANCE FEATURES p540 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:13:12 ——————— COT: INFLATION ALLOWANCE —————— 1996 Jan 0.005 Feb 0.004 Mar 0.007 Apr - ——————————————————————————————————9/12 May figures out late June FAMILY FINANCE FEATURES p540 Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:19:10 ————— 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 1.8% 2.4% 3.4% 3.4% 2.8* 2.7% Mar 1.9% 2.3% 3.4% 3.5% 2.4% 2.8% 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% 2.8% Jul 1.4% 2.3% 3.5% 2.8% 2.2% 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% 2.8% 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% ——————————————————————————————————10/12 Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:20:23 ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1996 1996 Jan 2.9% 2.8% Feb 2.7% 2.9% Government's inflation target is 2.5% ——————————————————————————————————11/12 Source: Central Statistical Office INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 May26 08:24:16 ————— 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% ——————————————————————————————————12/12 Source: Central Statistical Office LOOSING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!