01308 488066
taxvol@taxvol.org.uk

What are my allowances?

 

2016/17 2017/18 2018/19
Personal Allowance  - Incomes up to £100,000  £11,000  £11,500 £11,850
Marriage Allowance  £1,100  £1,150 £1,185
Blind Persons Allowance  £2,290  £2,320 £2,390
Starting Rate for Savings  £5,000  £5,000 £5,000
Personal Savings Allowance - Basic rate tax payer  £1,000  £1,000 £1,000
Personal Savings Allowance - Higher rate tax payer  £500  £500 £500

Married Couples Allowance  - You are eligible where at least one of you was born before 6th April 1935,  2016/17 £8,355, 2017/18 £8,445 & 2018/19 £8,695, but only allowed as a 10% reduction to your tax bill on incomes below  £27,700 2016/17, £28,000 2017/18 & £28,900 2018/19. This means that your tax bill will be reduced by up to £869.50, to nil, it cannot create a refund.

People on incomes over  £37,970 2016/17 , £38,070 2017/18 & £39,570 will not receive the allowance.

Starting Rate for Savings - Only applies to those with taxable income under £16,000 16/17, £16,500 2017/18 & £16,850 2018/19. For more information please go to FAQ - Can you explain the 0% Starting Rate for Savings and the Personal Savings Allowance?

 

Posted in: General