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  • FIRST POST
    • wakeupalarm
    • By wakeupalarm 23rd Mar 11, 6:41 PM
    • 641Posts
    • 273Thanks
    wakeupalarm
    Budget: Over 65 personal allowance
    • #1
    • 23rd Mar 11, 6:41 PM
    Budget: Over 65 personal allowance 23rd Mar 11 at 6:41 PM
    The personal allowance for under 65's is to increase to £8,105 in 2012-13. Does anyone know the rate for over 65's in 2012-13?
Page 1
    • AirlieBird
    • By AirlieBird 23rd Mar 11, 6:47 PM
    • 657 Posts
    • 399 Thanks
    AirlieBird
    • #2
    • 23rd Mar 11, 6:47 PM
    • #2
    • 23rd Mar 11, 6:47 PM
    That won't be known until the September inflation figures are released.
    • le loup
    • By le loup 23rd Mar 11, 8:10 PM
    • 3,275 Posts
    • 2,906 Thanks
    le loup
    • #3
    • 23rd Mar 11, 8:10 PM
    • #3
    • 23rd Mar 11, 8:10 PM
    Index linked, as always but .... now linked to CPI not RPI.
    The man forgets that pensioners vote!
    • thorsoak
    • By thorsoak 23rd Mar 11, 8:19 PM
    • 4,964 Posts
    • 22,516 Thanks
    thorsoak
    • #4
    • 23rd Mar 11, 8:19 PM
    • #4
    • 23rd Mar 11, 8:19 PM
    Index linked, as always but .... now linked to CPI not RPI.
    The man forgets that pensioners vote!
    Originally posted by le loup

    ...and if NI is to be included in with Income Tax, does that mean that over 65s who are still taxpayers will recommence paying NI????
  • Mikeyorks
    • #5
    • 23rd Mar 11, 8:54 PM
    • #5
    • 23rd Mar 11, 8:54 PM
    Does anyone know the rate for over 65's in 2012-13?
    Originally posted by wakeupalarm
    Slightly premature ...... normally published in Nov / Dec as they're related to indexation. The 65 and under is being declared because it's a specific value .... and there will be an Order in the Commons exempting it from indexation (as was the case with the £1000 increase this last year)

    Index linked, as always but .... now linked to CPI not RPI.
    The man forgets that pensioners vote!
    by le loup
    Not according to Treasury / HMRC :

    Legislation will be introduced in Finance Bill 2012 to set the personal allowance for those aged under 65 at £8,105 and the basic rate limit at £34,370. All other income tax, personal allowances and limits that are subject to indexation will be increased in line with the retail prices index
    So you can still vote for him! (unless you worry about NI .... which does appear to be indexed via CPI)
    Last edited by Mikeyorks; 23-03-2011 at 8:57 PM.
    If you want to test the depth of the water .........don't use both feet !
    • AirlieBird
    • By AirlieBird 23rd Mar 11, 9:00 PM
    • 657 Posts
    • 399 Thanks
    AirlieBird
    • #6
    • 23rd Mar 11, 9:00 PM
    • #6
    • 23rd Mar 11, 9:00 PM
    Index linked, as always but .... now linked to CPI not RPI.
    The man forgets that pensioners vote!
    Originally posted by le loup
    No, still RPI for the rest of this parliament.
    The employer NICs secondary threshold, the starting rate limit for savings income,
    income tax age-related allowances, age-related income limits, married couples allowances and
    blind persons allowance will be over-indexed compared to the CPI and continue to rise by the
    equivalent of the RPI for the course of this Parliament. For forecast purposes this is assumed to
    be until April 2016.
    Oops... beaten to it.
    • le loup
    • By le loup 23rd Mar 11, 10:39 PM
    • 3,275 Posts
    • 2,906 Thanks
    le loup
    • #7
    • 23rd Mar 11, 10:39 PM
    • #7
    • 23rd Mar 11, 10:39 PM
    I knew I should have read the Red Book and not relied on what he said to Parliament!
    • le loup
    • By le loup 23rd Mar 11, 10:45 PM
    • 3,275 Posts
    • 2,906 Thanks
    le loup
    • #8
    • 23rd Mar 11, 10:45 PM
    • #8
    • 23rd Mar 11, 10:45 PM
    Then, of course, in a year or so they will change the CPI based items to RPI for Tax Simplification!
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