P548 Teletext 548 Apr13 21:01:00          —— BUDGET TAX CHANGES ————————————————— Main changes in the 1996/7 Budget: basic rate tax down to 23p in the £1 MIRAS unchanged at 15% married couple's allowance up £40 at £1,830, but remains at 15% relief personal allowances up £280 each 40% tax threshold up £600 to £26,100 20% tax threshold up £200 to £4,100 tax allowance for the blind up £30 to £1,280 ——————————————————————————————————1/12— Income tax changes since 1994 >>> Download and Analyse Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:10:02         N —— BUDGET TAX CHANGES ————————————————— All money earned after your personal allowance is subject to tax at 3 rates: TAX 1995/6 1996/7 1997/8 20% £1-£3,200 £1-£3,900 £1-£4,100 25% £24,300 24% £25,500 23% £26,100 40% £24,301+ £25,501+ £26,101+ If you think you are paying too much or too little tax, refer to your local tax office or if necessary your accountant. ——————————————————————————————————2O12— Add up your personal tax allowance >> Download and Analyse Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:10:01           ——————— SUMMARY OF THE BUDGET ————————— TYPE/AGE 1994/1 1995/6 1996/7 1997/8 Under 65 £3,445 £3,525 £3,765 £4,045 65-74 £4,200 £4,630 £4,910 £5,220 75+ £4,370 £4,800 £5,090 £5,400 Married £1,720 £1,720 £1,790 £1,830 65-74 £2,665 £2,995 £3,111 £3,185 75+ £2,705 £3,035 £3,155 £3,225 Extra £1,720 £1,720 £1,790 £1,830 Higher rates of allowances are cut by £1 for every £2 earnt over £15,600. ——————————————————————————————————3/12— Tax-efficient ways to give cash >>> Download and Analyse Share Prices on Your PC See Pages 532 & 533 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:36:00         N ——————— SUMMARY OF THE BUDGET ————————— After certain deductions such as debts and funeral costs, tax is charged at 40% on estates worth £215,000+ which are not passed on to the spouse. Tax can be payable on some gifts if they were made up to seven years before deathN However, some escape taxation:  Gifts of up to £250 per year  'fdding gifts by parents up to £5,000  There is an annual £3,000 exemption Estates under £215,000 are tax-exempt ——————————————————————————————————4/12— Work out your capital gains tax >>> INTERESTING SAVINGS p546 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:12:12         N ———— CAPITAL GAINS TAX TABLES ————————— Indexation allowance is an adjustment for inflation when calculating your capital gains. To work it out: Find the month in which you bought the asset. Multiply the price you paid, by the figure shown for that month. Add the result to the original price. Deduct the total from the sale proceeds to get the capital gain. CGT threshold now £6,300 from £6,000 See Inland Revenue leaflet CGT13/CGT16 ——————————————————————————————————5/12 February disposable tables follow >> MAKING THE MOST OF YOUR MONEY p542 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:00:11           ——————— CGT: INFLA HONALLOWANCE —————— 1982 1983 1984 1985 1986 Jan - 0.876 0.785 0.699 0.610 Feb - 0.868 0.778 0.686 0.605 March 0.951 0.865 0.772 0.670 0.602 April 0.913 0.839 0.749 0.635 0.587 May 0.899 0.831 0.742 0.628 0.584 June 0.894 0.827 0.738 0.625 0.585 July 0.893 0.817 0.740 0.628 0.589 Aug 0.893 0.809 0.723 0.623 0.585 Sept 0.894 0.801 0.720 0.624 0.577 Oct 0.884 0.795 0.709 0.622 0.574 Nov 0.875 0.788 0.704 0.616 0.561 Dec 0.879 0.784 0.706 0.614 0.556 ——————————————————————————————————6/12— February disposables follow >>> ADVICE CLINIC ANSWERS QUERIES p543 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:03:10           ——————— CGT: INFLATION ALLOWANCE —————— 1987 1988 1989 1990 1991 Jan 0.550 0.500 0.396 0.297 0.190 Feb 0.544 0.495 0.386 0.290 0.184 March 0.541 0.489 0.360 0.277 0.180 April 0.523 0.465 0.356 0.239 0.165 May 0.521 0.460 0.348 0.228 0.161 June 0.521 0.454 0.343 0.223 0.156 July 0.523 0.453 0.342 0.222 0.158 Aug 0.518 0.437 0.339 0.210 0.156 Sept 0.514 0.430 0.329 0.199 0.152 Oct 0.506 0.416 0.319 0.190 0.147 Nov 0.499 0.409 0.308 0.192 0.143 Dec 0.500 0.405 0.305 0.193 0.142 ——————————————————————————————————7/12 February disposal tables follow >>> IS YOUR PREMIUM BOND A WINNER? p549 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:03:10           ——————— CGT: INFLA HONALLOWANCE —————— 1992 1993 1994 1995 Jan 0.143 0.124 0.097 0.062 Feb 0.137 0.117 0.091 0.055 March 0.134 0.113 0.088 0.051 April 0.117 0.002 0.075 0.040 May 0.013 0.099 0.071 0.036 June 0.013 0.099 0.071 0.035 July 0.117 0.102 0.076 0.040 Aug 0.116 0.099 0.071 0.034 Sept 0.112 0.092 0.069 0.029 Oct 0.108 0.093 0.067 0.035 Nov 0.110 0.095 0.067 0.035 Dec 0.114 0.092 0.062 0.029 ——————————————————————————————————8/12 February disposables follow >>> NEg WAYS TO MAXIMISE MONEY p541 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:12:15          ——————— CGT: INFLATION ALLOWANCE —————— 1996 1997 Jan 0.032 0.004 Feb 0.027 - Mar 0.023 Apr 0.016 May 0.014 June 0.013 July 0.017 August 0.012 Sept 0.008 Oct 0.008 Nov 0.007 Dec 0.004 ——————————————————————————————————9/12 March figures out late April gHAT'S ON FAMILY FINANCE p540 Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:10:01          ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1993 1994 1995 1993 1994 1995 Jan 1.7% 2.5% 3.3% 3.2% 2 8% 2.8% Feb 1.8% 2.4% 3.4% 3.4% 2.8% 2.7% Mar 1.9% 2.3% 3.4% 3.5% 2.4% 2.8% Apr 1.3% 2.6% 3.5% 2.9% 2N3% 2.6% May 1.3% 2.6% 3.4% 2.8% 2.5% 2.7% Jun 1.2% 2.6% 3.5% 2N8% 2.4% 2.8% Jul 1.4% 2.3% 3.5% 2N8% 2.2% 2N8% Aug 1.7% 2.4% 3.6% 2 8% 2.2% 2 9% Sep 1 8% 2.2% 3.9% 3.3% 2N0% 3.1% Oct 1.4% 2.4% 3.2% 2 8% 2 0% 2.9% Nov 1.4% 2.6% 3.1% 2.5% 2.3% 2.9% Dec 1.9% 2.9% 3.2% 2.7% 2.5% 3.0% ——————————————————————————————————10/12 Source: Office of National Statistics INFLATION FIGURES FOR 1996 FOLLOW >> Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:14:00          ————— INFLATION: Month-on-Month ——————— All items Ex mortgages 1996 1997 1996 1997 Jan 2.9% 2.8% 2.8% 3.1% Feb 2.7% 2.7% 2.9% 3.1% Mar 2.7% 2.9% Apr 2.4% 2.9% May 2.2% 2.8% June 2.1% 2.8% July 2.2% 2.8% Aug 2.1% 2.8% Sep 2.1% 2.9% Oct 2.7% 3.3% Nov 2.7% 3.3% Dec 2.5% 3.1% ——————————————————————————————————11/12 Government's inflation target is 2.50% INFLATION YEAR-ON-YEAR FOLLOWS >>> Bonds Your Money Saving It's Your Life!
P548 Teletext 548 Apr13 21:15:01          ————— INFLATION: Year-on-Year ————————— YEAR All items Excluding Mortgages 1980 18N0% 16.9% 1981 11.9% 12.2% 1982 8.6% 8.5% 1983 4.6% 5.2% 1984 5.0% 4.4% 1985 6.1% 5.2% 1986 3.4% 3.6% 1987 4.2% 3.7% 1988 4.9% 4.6% 1989 7.8% 5.9% 1990 9.5% 8.1% 1991 5.9% 6.7% ——————————————————————————————————12/12 Source: Central Statistical Office LOOKING FOR FINANCIAL ADVICE? p543 Bonds Your Money Saving It's Your Life!