P221 CEEFAX 221 Sat 1 Apr 00:01/23   1/3     TAX GUIDE (1) + Income tax is assessed on personal income only after your income exceeds the totals below. dhese are known as tax-free personal allowances. 1987/88 1988/89 Single Married Single Married £2,225 £3,795 £2,605 £4,095 + If, however, you are 65 or over or can expect capital gains of more than £5,000 in the current tax xgar, see the following pages.  More Rates MoneyFile EconoData Headlines
P221 CEEFAX 221 Sat 1 Apr 00:00/04   2/3     TAX GUIDE (2) + If you are 65 or over (or 80 or over) at the end of the tax xfar the tax-free portion of your income is as follows. 1987/88 1988/89 Single Married Single Married 65-plus £2,960 £4,675 £3,180 £5,035 80-plus £3,070 £4,845 £3,310 £5,205 + If, however, your personal income exceeds £11,400 in 1988/89, you lose £1 of your age allowance for every £2 by which your income exceeds £11,400. NB Your personal allowance remains intact however great your income.  More Rates MoneyFile EconoData Headlines
P221 CEEFAX 221 Sat 1 Apr 00:01/06   3/3     TAX GUIDE (3) + After deducting allowances (preceding pages) your income is taxed as follows: 1987/88 % 1988/89 % First £17,900 27 First £19,300 25 £17,901-£20,400 40 £0:,301 upwards 40 £20,401-£25,400 45 £25,401-£33,300 50 £33,301-£41,200 55 £41,201 upwards 60 NB Taxable income is arrived at after deducting personal allowances, mortgage interest, pension contributions, etc.  More Rates MoneyFile EconoData Headlines
P221 CEEFAX 221 Sat 1 Apr 00:23/21   1/3 ##  Ly= {y < H  @X GUIDE 0 + Income tax —s assessdd on personal income only after your income exceeds the totals below. $hese are known as tax-fwee personal allowances. 0887/ 8 1988/8Y Single Married Single Married £2,425 £3,795 £2,605 £4,095 + If, howavdr, you are 65 or over or can expect capital gains of moqe t—an £5,00p hn the currenp tax xfar, see the following p—ges.  More R—tes MoneyFile EconoData Headlinas