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Income tax and age-related allowances 2011/12

13 December 2010
Issue: 4285 / Categories: Income Tax
With comparison to 2010/11
  2010/11 2011/12
   £  £
Personal allowance (age under 65) 6,475 7,475
Personal allowance (age 65 to 74) 9,490 9,940
Personal allowance (age 75 and over) 9,640 10,090
Married couple’s allowance* 6,965 7,295
Married couple’s allowance (minimum amount)** 2,670  2,800
Income limit for under 65 personal allowance  100,000  100,000
Income limit for age-related allowances  22,900  24,000
Blind person’s allowance  1,890  1,980
Pension scheme allowances    
Annual allowance  255,000  50,000
Lifetime allowance  1,800,000  1,800,000
Annual ISA subscription limit       
Overall limit  10,200  10,680
of which cash  5,100  5,340
of which stocks & shares  10,200  10,680

 

*Tax relief restricted to 10%.
**This is also the maximum relief for maintenance payments where at least one of the parties is born before 6 April 1935.

Issue: 4285 / Categories: Income Tax
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