The following tax rates and allowances are applicable for the tax year 1997/98 with comparatives for the years 1996/97 & 1995/96.
INCOME TAX ALLOWANCES
1997/98 |
1996/97 |
1995/96 |
|
Personal allowance |
4045 |
3765 |
3525 |
Married couple's allowance |
1830* |
1790* |
1720* |
Additional personal allowance |
1830* |
1790* |
1720* |
Widow's bereavement allowance |
1830* |
1790* |
1720* |
Age allowance Single person aged 65-74 |
5220 |
4910 |
4630 |
Age allowance Single person aged 75 and over |
5400 |
5090 |
4800 |
Age allowance Married couple's aged 65-74 |
3185* |
3115* |
2995* |
Age allowance Married couple's aged 75 and over |
3225* |
3155* |
3035* |
Age allowance reduced by 50% of income over |
15600 |
15200 |
14600 |
No age allowance if income over Single aged 65-74 |
17950 |
17490 |
16810 |
No age allowance if income over Single aged 75 and over |
18310 |
17850 |
17150 |
No age allowance if income over Married aged 65-74 |
20660 |
20140 |
19360 |
No age allowance if income over Married aged 75 and over |
21100 |
20580 |
19780 |
Blind person's allowance |
1280 |
1250 |
1200 |
| Rent a room | 4250 | 3250 | - |
| Interest relief on main residence - mortgage limit | 30000* | 30000* | 30000* |
| Enterprise Investment Scheme | 100000** | 100000** | 100000** |
| Venture Capital Trusts | 100000** | 100000** | 100000** |
| *Relief restricted to 15% | |||
| **Relief restricted to 20% |