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Page 4 of 31
Budget 2004
Personal Taxation
Personal Allowances
| |
2004/2005
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2003/2004
|
| |
£
|
£
|
| Personal |
| - age under 65 |
4,745
|
4,615
|
| - age 65-74 |
6,830
|
6,610
|
| - age 75 and over |
6,950
|
6,720
|
| Married couple's*†‡ |
|
|
| - age less than 75 and born pre 6 April 1935 |
5,725
|
5,565
|
| - age 75 and over |
5,795
|
5,635
|
| Age allowance income limit for full relief§¶ |
18,900
|
18,300
|
| Blind person's |
1,560
|
1,510
|
|
* Relief is restricted to 10%
† Part or the full amount of the allowance may be transferred to the wife
‡ Applies only where at least one spouse was born pre 6 April 1935
§ Personal allowance for age 65 and over reduced by £1 for every £2 income in excess of limit until basic personal allowance of £4,745 (£4,615 2003/2004) is reached.
¶ Married couple's allowance reduced by £1 for every £2 income in excess of limit until minimum allowance of £2,210 (£2,150 2003/2004) is reached
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