P535 ORACLE 535 Sat29 Jul C4 2200:11  2/6      NEW RATES FOR 1989/90 TAX YEAR Taxable income bands (ie after personal allowances have been deducted) £0 — £20,700........ 25% £20,700 plus........ 40% --------------------------------------- Company car/fuel benefits tax Under 4 Plus 4 Fuel yrs old yrs old Up to 1400cc £1,400 £ 950 £480 1401cc - 2000cc 1,850 1,250 600 above 2000cc 2,950 1,950 900 Cars with original market value of: £19,251-£29,000 £3,850 2,600 Over £29,000 £6,150 4,100 NB Figures taxable, not payable more > Your Money index 530 Rock & Pop 540 You Write Feature Nat Savings City
P535 ORACLE 535 Sat29 Jul C4 2201:01  5/6      Indexation for assets sold in June: 1982 1983 1984 1985 January - 0.397 0.329 0.265 February - 0.391 0.323 0.255 March 0.413 0.388 0.319 0.244 April 0.424 0.369 0.302 0.210 May 0.414 0.363 0.297 0.212 June 0.410 0.360 0.294 0.209 July 0.409 0.353 0.295 0.212 August 0.409 0.347 0.283 0.209 September 0.410 0.341 0.281 0.209 October 0.403 0.336 0.273 0.207 November 0.396 0.332 0.269 0.203 December 0.399 0.328 0.270 0.202 Use "hold" if required more follows > Your Money guide 530 Letters 536 You Write Feature Nat Savings City
P535 ORACLE 535 Sat29 Jul C4 2211:01  1/6     $/*%/ *%/*%/ / /$,'  NEW RATES FOR THE 1989/90 TAX YEAR Personal allowances Single people £2,785 Married man £4,375 Wife's earned income £2,785 Additional allowance (for people raising a child alone) £1,590 Age allowances if income is below £11,400 Up to 74 75+ Married man £5,385 £5,565 Single person £3,400 £3,540 Your Money guide 530 Letters 536 ANGLING has moved to p615 You Write Feature Nat Savings City
P535 ORACLE 535 Sat29 Jul C4 2200:01  3/6      Inheritance Tax (1989/90 rates) Tax Band Up to £118,000 Nil Over £118,001 40% Calculation includes the value of your home, but you can mitigate the effects of the tax. Seek professional advice. Capital Gains Tax 1989/90 An exemption of £5,000 applies per person except for married couples who share an exemption until 1990. Realised gains in excess of this are taxed at an individual's highest tax rate. Losses can be used to offset gains and indexation tables (following) take account of inflation. more > Your Money index 530 Letters 536 You Write Feature Nat Savings City
P535 ORACLE 535 Sat29 Jul C4 2200:01  4/6      Capital Gains Tax You pay this tax when you sell some- thing you own at a profit — but there are some exceptions like your home and car. In 1989/90 you can make a gain of up to £5,000 without incurring CGT. "Indexation" gives you extra to counter the effects of inflation. Over the page are the indexation figures for assets sold in June. Find the month you bought the asset and multiply it by the original value. For example, an asset worth £5,000 in May, 1982 is: 0.414 x 5,000 = £2,070 You take this off the amount you sold it for, thus reducing tax liability. more > Your Money guide 530 Letters 536 You Write Feature Nat Savings City