P221 CEEFAX 221 Tue 8 Jul 21:07/15  CEEFAX FAMILY FINANCE 1/3  TAX GUIDE 1: PERSONAL  AL NWANCES + Income tax is assessed on personal income only aftfr your income exceeds the totals below. These are known as Tax-Free Personal Allowances. 1979/80 1980781 Single Married Singlf Married £1,165 £1,815 £1,375 £2,145 + If, however, you are 65 or over or have an investment income of morf than £5,000 pa, see the following paff. + In a moment TAX GUIDE PART 2
P221 CEEFAX 221 Tue 8 Jul 21:04/42  CEEFAX FAMILY FINANCE 3'3  TAX GUIDE 3:TAX BRACKETS  + Aftdr deducting allowances (see .dxt page) your income is taxfd as follows 19  Next £750 25 Lowest band rfmoved £750-£10,000 30 Fibst £11,250 30 £10,000-£12,000 40 £11,250-£13,250 40 £12,000-£15,000 45 £13,250-£16,750 45 £15,000-£20,000 50 £16,750-£22,250 50 £20,000-£25,000 55 £22,250-£27 6 55 £25,000 upwards 60 £27,750 upwards 60 + Income from investment is liabld to the Investment Income Surc(—rge. his is applied at an additimnal flat ratf of 15% on all investment income nvdr £5,500 per annum. + In a moment TAX GUIDE PART 1
P221 CEEFAX 221 Tue 8 Jul 21:06/08  CEEFAX FAMILY FINANCE 2/3  TAX GUIDE 2: OLD AGE  AL N.ANCES + If you are 65 or nvdr at the end of the t—x ydar, t(d tax-frde portion of your hlcome is increased to the totals belNw. 1979/80 1 80781 Single Larried Single Married £1,140 £2,455 £1,820 £2,895 + If, however, your personal income exceeds £5,900 in 1980/81, you lose £2 of your age allowance for —vdry £3 by which your income exceeds £5,900. NB Your personal allowance rdmains intact however grdat your income. + Check next ——fd for your tax bracket. + In a moment TAX GUIDE PART 3