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Question of the week: As an OAP how much can I earn before I pay tax?

Former_MSE_Wendy Posts: 929 Forumite

27 October 2009 at 11:46AM edited 27 October 2009 at 11:33PM in Employment, jobseeking & training

Q. As an OAP how much can I earn before I pay tax?
Eddie Orouke by email

Martin's A: Your personal allowance is the amount you can earn before paying income tax. For under 65s the standard is £6,475, but to help older people those aged 65 to 74 its £9,490 and for oer 75s its £9,640.

Simple enough so far, yet there are limits to the generosity to higher earning pensioners. For over 65s who earn above £28,930 or over 75s above £29,230 your personal allowance is reduced by £1 for every £2 earned until it reduces to the standard £6,475 amount. See the incometaxchecker for more.

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