P565 ORACLE 565 Sun 7 Aug S4C 2040:11  8/6      Personal allowances (1988/89) Single people £2,605 Married man 4,095 Wife's earned income 2,605 Additional personal allowance (for people raising a child alone) 1,490 Age allowances if income is below £10,600: Married man up to 5,035 aged over 80 up to 5,205 Single person up to 3,180 aged over 80 up to 3,310 more follows > Your Money guide 560 Holidays 580 FIDELITY THE POWER TO PERFORM 574 You Write Feature Tourist Rates City
P565 ORACLE 565 Sun 7 Aug S4C 2050:01  2/6      1988/89 taxable income bands (ie after personal allowances have been deducted) £1 — £19,300........ 25% £19,301 plus........ 40% ####################################### Company car/fuel benefits tax 1988/89 Under 4 Plus 4 Fuel yrs old yrs old Up to 1400cc £1,050 £ 700 £480 1401cc - 2000cc 1,400 940 600 above 2000cc 2,200 1,450 900 Cars with original market value of: £19,251-£29,000 £2,900 1,940 Over £29,000 £4,600 3,060 NB Figures taxable, not payable Inheritance tax > Your Money index 560 Letters 566 You Write Feature Tourist Rates City
P565 ORACLE 565 Sun 7 Aug S4C 2030:01  3/6      Inheritance Tax from March 15 Tax Band Up to £110,000 Nil Over £110,001 40% Calculation includes the value of your home, but you can mitigate the effects of the tax. Seek professional advice. Capital Gains Tax 1988/89 An exemption of £5,000 applies per person except for married couples who share an exemption until 1990. After that the gain is added to income to be taxed at income tax rates. Losses can still be used to offset gains. Capital Gains Tax > Your Money index 560 Letters 566 You Write Feature Tourist Rates City
P565 ORACLE 565 Sun 7 Aug S4C 2051:11  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. The 1988/89 allowance is £5,000. Married couples get one allowance between them. 'Indexation' gives you extra to counter inflation effects. Overpage 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: 0.306 x 5,000 = £1,530 You take this off the amount you sold it for, thus reducing tax liability. >> Your Money guide 560 Letters 566 You Write Feature Tourist Rates City
P565 ORACLE 565 Sun 7 Aug S4C 2040:00  5/6      Indexation for assets sold in June: 1982 1983 1984 January - 0.290 0.227 February - 0.285 0.222 March 0.342 0.283 0.219 April 0.315 0.265 0.203 May 0.306 0.259 0.198 June 0.302 0.256 0.195 July 0.302 0.250 0.196 August 0.302 0.244 0.185 September 0.302 0.239 0.183 October 0.296 0.234 0.176 November 0.290 0.230 0.172 December 0.292 0.227 0.173 Use 'hold' if required 1985-88 >>> Your Money guide 560 Letters 566 You Write Feature Tourist Rates City
P565 ORACLE 565 Sun 7 Aug S4C 2040:20  6/6      Indexation for assets sold in June: 1985 1986 1987 1988 January 0.169 0.108 0.066 0.032 February 0.159 0.103 0.062 0.028 March 0.149 0.102 0.060 0.024 April 0.125 0.091 0.047 0.008 May 0.120 0.089 0.046 0.004 June 0.117 0.090 0.046 July 0.119 0.093 0.047 August 0.116 0.090 0.044 September 0.117 0.084 0.041 October 0.115 0.083 0.036 November 0.111 0.074 0.031 December 0.110 0.070 0.032 Use 'hold' if required more follows > Your Money guide 560 Letters 566 You Write Feature Tourist Rates City