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Age related personal allowance
m1ntie
Posts: 331 Forumite
in Cutting tax
Hi
I turn 65 in September of this year, can anyone tell me how the increased pa (£9940) works - do I get the whole increased allowance for 2011/12 or do they pro - rata it.
Regards
I turn 65 in September of this year, can anyone tell me how the increased pa (£9940) works - do I get the whole increased allowance for 2011/12 or do they pro - rata it.
Regards
0
Comments
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You get the full amount.0
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But it will be reduced if your total income exceeds £24000. By £1 for every £2 you go over ...... but no further back than the basic of £7475If you want to test the depth of the water .........don't use both feet !0
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Has anything yet been said about the level of the age-related allowance, when the proposal for a new general £10,000 personal allowance in a couple of years is implemented? I wonder if there will still be an age-related differential?0
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feralkitten wrote: »Has anything yet been said about the level of the age-related allowance, when the proposal for a new general £10,000 personal allowance in a couple of years is implemented? I wonder if there will still be an age-related differential?
As the age related allowance for those at 75 and over has been indexed above £10k this coming year ...... it's a conclusion I'd hate to draw. I think the universal £10k remains at the 'proposal' stage.If you want to test the depth of the water .........don't use both feet !0
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