|
| |
     
   
|
Income Tax Allowances & Reliefs |
2005/2006 |
2004/2005 |
2003/2004 |
2002/2003 |
2001/2002 |
|
£ |
£ |
£ |
£ |
£ |
|
Personal Allowance |
4,895 |
4,745 |
4,615 |
4615 |
4535 |
| |
|
|
|
|
|
|
Age Allowance for Ages 65-74 |
|
|
|
|
|
|
Single Person Allowance |
7,090 |
6,830 |
6,610 |
6100 |
5990 |
|
Married Couples Allowance |
5,905* |
5,725* |
5,565* |
5465* |
5365* |
|
Age Allowance for Ages Over 75 |
|
|
|
|
|
|
Single Person Allowance |
7,220 |
6,950 |
6,720 |
6370 |
6260 |
|
Married Couples Allowance |
5,975* |
5,795* |
5,635* |
5535* |
5435* |
|
Age Allowance reduced by half income over |
19,500 |
18,900 |
18,300 |
17900 |
17600 |
|
Married Couples Allowance - Minimum Amount |
2,280 |
2,210 |
2,150 |
2110 |
2070 |
|
Blind Person Allowance |
1,610 |
1,560 |
1,510 |
1480 |
1450 |
|
Rent a Room Relief |
4,250 |
4,250 |
4,250 |
4250 |
4250 |
|
*Relief restricted to 10% |
|
|
|
|
|
| |
|
|
|
|
|
|
Children's Tax Credit (CTC)** |
|
|
|
5290** |
5200** |
|
Children's Tax Credit - Baby Rate (CTC)*** |
|
|
|
10490*** |
-- |
|
**CTC is available from 2001/02 to
parents (irrespective of marital status) who have at least one child under
16 living with them. For couples, there are special rules on who can claim
CTC. If the claimant is a higher rate taxpayer, the allowance
is reduced at the rate of £2 per £3 of income earned above the higher rate
threshold. Relief for CTC is given at 10%. |
|
*** The Baby Rate of CTC is available from
2002/2003 in the year of a child's birth. Relief for this credit is also
given at 10% and the same restrictions apply for higher rate taxpayers. |
|
