Budget 2006

Personal Reliefs

Loss of office

£30,000 exempt (subject to conditions)

Maintenance to ex spouse/civil partner

• relief on maximum of £2,350 (£2,280 2005/2005) unless obligation existed on 15 March 1988
• relief restricted to 10%
• applies only where either party was born pre 6 April 1935

Life assurance relief

• relief on pre 14 March 1984 policies 12.5%

Rent a room relief

• rent received on furnished accommodation in an individual’s only or main residence tax free up to a maximum of £4,250 per tax year

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.