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Income tax: Income tax allowances 2012-13

£ per year (unless stated)
2011-12
2012-13
Personal allowance:
Age under 65*
7,475
8,105
Income limit for Personal Allowance* **
100,000
100,000
Age-related allowance (65-74)* **
9,940
10,500
Age-related allowance (75+)
10,090
10,660
Income limit for age-related
24,000
25,400
Married couples allowance:** *** ****
Age over 75** ***
7,295
7,705
Minimum amount
2,800
2,960
Blind Persons Allowance
1,980
2,100

* From the 2010-11 tax year the Personal Allowance reduces where the income is above 100, 000 - by 1 for every 2 of income above the 100,000 limit. This reduction applies irrespective of age.
** These allowances reduce where the income is above the income limit for age-related allowances by 1 for every 2 of income above the limit. For the 2009-10 they will never be less than the basic Personal Allowance or minimum amount of Married Couple's Allowance. However, from the 2010-11 tax year the Personal Allowance for people aged 65 to 74 and 75 and over can be reduced below the basic Personal Allowance where the income is above 100,000.
*** Tax relief for the Married Couple's Allowance is given at the rate of 10 per cent.
**** In the 2009-10 tax year all Married Couple's Allowance claimants in this category became 75 at some point during the year and therefore entitled to the higher amount of the allowance - for those aged 75 and over.

TAKEN FROM: http://www.hmrc.gov.uk on 23/06/2012.

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