tax allowances 2006 and 2007

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UK TAX ALLOWANCES SUMMARY
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Allowance	Age	Tax year ending 5 April	Amount
Personal	up to 65	2001 2002 2003 2004 2005 2006 2007 2008	£4,385 £4,535 £4,615 £4,615 £4,745 £4,895 £5,035 £5,225
	65 to 74(6)	2001 2002 2003 2004 2005 2006 2007 2008	£5,790(1) £5,990(1) £6,100(1) £6,610(1) £6,830(1) £7,090(1) £7,280(1) £7,550(1)
	75 Plus(6)	2001 2002 2003 2004 2005 2006 2007 2008	£6,050(1) £6,260(1) £6,370(1) £6,720(1) £6,950(1) £7,220(1) £7,420(1) £7,690(1)
Married Couple's(2) Age allowance income limit £20,900 for 2007/08 £20,100 for 2006/07 65-74 = £24,590 75 & over = £24,870 HIGHER LIMIT 1<65 & 1 <75 = £27,530 1 <65 & 1 >75 = £27,670 1 is 65-74 & 1 <75 = £32,020 1 is 65-74 & 1 >=75 = £32,160 Both >=75 = £32,440	65 - 74 66 - 74 Age 65 before 6 Apr 2000	2001 2002 2003 2004 2005 2006 2007 2008	10% of £5,185(1) 10% of £5,365(1) 10% of £5,465(1) 10% of £5,565(1) 10% of £5,725(1) 10% of £5,905(1) 10% of £6,065(1) 10% of £6,285(1)
	75 Plus	2001 2002 2003 2004 2005 2006 2007 2008	10% of £5,255(1) 10% of £5,435(1) 10% of £5,535(1) 10% of £5,635(1) 10% of £5,795(1) 10% of £5,975(1) 10% of £6,135(1) 10% of £6,365(1)
Blind person's	any	2001 2002 2003 2004 2005 2006 2007 2008	£1,400 £1,450 £1,480 £1,510 £1,560 £1,610 £1,660 £1,730
Minimum Wage	22 and above 18 to 21 under 18	01 Oct 2006 01 Oct 2006 01 Oct 2006	£5.35p per hour £4.45 per hour £3.30 per hour
(1) The amount of these allowances is reduced if total income is above a certain amount. In the tax year ending 5 April 2006 the allowances were reduced if total income was over £19,500 and in the tax year ending 5 April 2007 the income limit is £20,100. (2) From April 2000, this allowance was abolished for people born on or after 6 April 1935. Where the allowance received by an older person is restricted because of income - see note (1) above - it will not be reduced below £2,000 in the tax year ending 5 April 2001 and £2,070 in the tax year ending 5 April 2002 and £2,110 in tax year 2003 and £2,150 in tax year 2004 and £2,210 in 2005 and £2,280 in 2006. (3) This allowance is abolished for deaths occurring after 5 April 2000. Where death occurred during the tax year ending 5 April 2000, the widow also received the allowance in the tax year ending 5 April 2001. (4) But the credit is reduced by £2 for every £3 by which your income exceeds the higher-rate tax threshold. (5) Is reduced by 55p for ea £1 of net income above £94.50. Savings are less than £8,000 but savings above £3,000 are taken into account in assessing your income. It is assumed you earn £1 a week from ea £250 of savings above £3,000. (6)Age allowance income limit (2003/04=£18,300)(2004/05=£18,900). Where income exceeds limit (2003/03=£4,615)(2004/05=£4,745)