Income Tax Allowances Table

If you are looking at income Tax Relief and reviewing or planning your finances, please feel free to contact us. We can chat through your specific circumstances and tax efficient ways to legally minimise your income tax and optimise your tax relief.

Income Tax Allowances Table

Income Tax Allowances 2013 – 2014 2014 – 2015 2015 – 2016
Personal Allowance for people born after 5 April 1948 (1) £9,440 £10,000 £10,600
Income Limit for Personal Allowance £100,000 £100,000 £100,000
Personal Allowance for people born between 6 April 1938 and 5 April 1948 (1) (2) £10,500 £10,500 £10,600
Personal Allowance for people before 6 April 1938 (1) (2) £10,660 £10,660 £10,660
Married Couple’s Allowance ( born before 6th April 1935 and aged 75 and over) (2) (3) £7,915 £8,165 £8,355
Income Limit for the allowances for those born before 6 April 1948 £26, 100 £27,000 £27,700
Minimum amount of Married Couple’s Allowance £3, 040 £3,140 £3, 220
Blind Person’s Allowance £2, 160 £2,230 £2,290

1. The Personal Allowance reduces where the income is above the £100,000 – by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.

2. These allowances reduce where the income  above the income limit by £1 for every £2 of income above the limit. The Personal Allowance for people aged 65 and over can be reduced below the basic Personal Allowance where the income is above £100,000.

3. Tax relief for the Married Couple’s Allowance is given at the rate of 10 per cent.

Please contact us for further information

Disclaimer:

The information given have been provided as a helpful reference point. The Tax Rates provide a guide only and your specific circumstances are best discussed directly with us.

No action should be taken without seeking the appropriate professional or legal advice. The authors accept no responsibility whatsoever for any loss occasioned by anyone acting on information within this APP.