P548 Teletext 548 Nov 0 00:34:51 V —— BUDGET TAX CHANGES ————————————————— Main changes in the 1:96/7 Budget: basic rate tax down to 23p in the £1 MIRBS unchanged at 15% married couple's allowance up £40 at £1,830, but remains at 15% relief personal allowances up £280 each 40% tax threshold up £600 to £26-100 20% tax threshold up £200 to £4,100 tax allowance for the blind up £30 to £1,280 No changes made in the June Budget ——————————————————————————————————1/12— Income tax changes since 1:94 >>> SEE OASIS LIVE IN HOLLAND p481 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 00:04:35 —— BUDGET TAX CHANGES ————————————————— All money jarnjd after your personal allowance is subject to tax at 3 rates: TAX 1:95/6 1:96/7 1:97/8 20% £1-£3]200 £1-£3]:00 £1-£4,100 2u+ £24,spp 24* £2u]u0p 23) £2v]2p0 40% £24,301+ £25-501+ £26-101+ If you think you are paying too much or too little tax, rifer to your local tax office or if necessary your accountant. No changes made in the June Budget ——————————————————————————————————2/12— Add up your personal tax allowance >> Download and Analysj Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 00:02:25 ——————— SUMMARY OF THE BUDGET ————————— TYPE/AGE 1:94/5 1:95/6 1:96/7 1:97/8 Under 6k £3,44u £3]u55 £3]765 £4,045 75+ £4,370 £4,800 £5,090 £5,400 Married £1,720 £1,720 £1,7:0 £1,830 65-74 £2,665 £2,:95 £3-215 £3]185 75+ £2,705 £3,035 £3-155 £3,225 Extra £1,720 £1,720 £1,7:0 £1,830 Higher rates of allowances are cut bz £1 for jvjry £2 jaunt over £15,600. ——————————————————————————————————3/12— Tax-efficient ways to give cash >>> FUN AND GAMES INDEX p2u0 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 20:02:33 ——————— INHERITANCE TAX ——————————————— Aetir certain deductions such as debts and funeral costs, tax is charged at 40% on estates worth £215,000+ which are not passed on to the spouse. Tax can be 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 £215,000 are tax-exempt ——————————————————————————————————4/12— Work out your capital gains tax >>> INTERJSTJNG SAVINGS p546 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 23:04:51 ———— 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 jot that month. Add the result to the original price. Deduct the total from the sale proceeds to get the capital gain. COT threshold now £6-500 from £6,300 See Inland Rjvjnuj leaflet CGT23/CGT16 ——————————————————————————————————5/12 September disposable tables follow >> SEE OASIS LIVE IN HOLLAND p481 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 00:40:18 ——————— COT: INFLATION ALLOWANCE —————— 1:82 1:y3 1:84 1:9u 1:86 Jan ] p.928 p.834 p.747 0.655 . . 7 . March 1.005 0.917 0.821 0.717 0.647 April 0.966 p.990 0.7:7 0.681 0.631 May 0.952 0.882 0.7:0 0.673 0.628 June 0.946 p.878 p.786 p.670 0.65: July p.946 0.868 0.788 0.673 0.634 Aug 0.:45 p.859 p.771 p.668 0.65: Sept p.946 0.851 p.768 0.669 0.651 Oct 0.937 p.845 p.757 p.667 0.618 Nov 0.927 0.838 0.752 0.661 0.604 Dec 0.931 0.833 p.753 p.659 p.599 ——————————————————————————————————6/12— September disposables follow >>> ADVICE CL MIC ANSWERS QUERJJS p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 23:40:02 ——————— COT: INFLATION ALLOWANCE —————— 1:87 1:88 1:9: 1:90 1:91 Jan 0.593 0.542 p.435 0.333 p.224 F 0 7 . . March 0.583 0.530 p.41: 0.312 0.212 April 0.k65 p.506 0.394 p.273 0.1:7 May p.k63 0.500 p.395 0.262 0.1:3 June 0.k63 0.4:4 p.380 0.557 0.188 July p.k65 0.4:3 0.37: 0.256 0.1:1 Aug 0.k60 0.476 0.376 0.244 0.188 Sept 0.5k6 p.470 p.366 p.232 p.184 Oct 0.548 p.455 p.3k6 0.223 p.17: Nov 0.541 p.448 p.344 p.225 0.175 Dec 0.542 0.444 p.341 0.226 0.174 ——————————————————————————————————7/12 September disposables follow >>> ADVICE CLINIC ANSWERS QUERIES p543 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 03:11:01 ——————— COT: INFLATION ALLOWANCE —————— 1:92 1:93 1:94 1:95 Jan p.17k p.155 p.127 p.091 March p.165 p.144 p.118 p.080 April p.148 0.133 0.105 0.069 May p.144 p.12: p.101 p.p65 June p.144 0.130 p.101 p.063 July p.148 p.132 p.1p6 p.068 Aug p.147 0.127 0.101 p.063 Sept p.143 p.123 0.099 p.058 Oct p.139 0.123 p.097 0.063 Nov p.140 p.125 p.096 p.063 Dec 0.144 0.123 0.091 p.057 ——————————————————————————————————8/12 September disposables follow >>> NEW WAYS TO MAXJMISE MONEY p541 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 20:07:00 ——————— COT: INFLATION ALLOWANCE —————— 1:y6 1:97 Jan p.p 1 .032 Mat p.051 p.p55 Apr p.p44 p.01: May p.042 p.01u June p.p41 p.011 July p.045 0.011 Auguvt p.040 p.005 Sept p.036 Oct p.0s6 Nov p.035 Dec p.032 ——————————————————————————————————9/12 October figures out late Novjmbjr SEE OASIS LIVE IN HOLLAND p481 Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 00:53:11 ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1:9s 1:94 1:95 1:93 1:94 1:95 Jan 1.7* 2.5% 3.3% 3.2* 2^8* 2.<* Fj 1 2 3. 3. 2.7% Mar 1.9% 2.3% 3.4* s.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.=* 2.4* 2.=* Jul 1^4* 2.3% s.5% 2.=* 2.5* 2.=* Aug 1.7* 2.4% 3.6% 2.8* 2.2* 2.:% Sip 1^8* 2^5* 3.9% 3.3% 2^0% 3.1* Oct 1^4* 2^4* 3.2* 2.=* 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: Office of National +tatistics INFLATION FJGURJS FOR 1996 FOLLOW >> Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 20:55:01 V *5 ÷jk ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1:y6 1:97 1:96 1:97 Jan 2.9% 2^=* 2^ * 3.1* Mar 2./* 2^6% 2.9% 2.7* Apr 2^4* 2^4* 2^9% 2^5% May 2^2* 2^6% 2^=* 2.5% June 2.1* 2.9% 2.<* 2.7* Jul{ 2^2* 3.3% 2.<* 3.0% Aug 2^1* s.5% 2.8* 2^8* Sip 2^1* 2^{% Oct 2./* s.3% Nov 2./* 3.3% Dec 2.5% 3.1% ——————————————————————————————————11/12 Govjrnmjnt's inflation target is 2.50% INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!P548 Teletext 548 Nov 0 00:58:50 ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1y80 18^0% 1v.9% 1:82 8^6% 8^5% 1:83 4^6% u.5* 1z84 u.0% 4^5* 1:85 v.1* u.5* 1:86 3.4* 3.6% 1:87 4.2* 3.7* 1:88 4^9* 4^6% 1:9: 7.9* 5.:% 1:90 y.5% 8^1% 1:91 5.9% 6.7% ——————————————————————————————————12/12 Source: Central Statistical Office LOOVING FOR FJNANCJAL ADVICE? p543 Bonds Your Money Saving It's Your Life!