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Individuals

Personal Allowances

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The standard personal allowance will rise to £11,000 from 6 April 2016. The age related allowances are gradually falling in line with age-related allowances given to taxpayers born since April 1948.

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The transferrable allowance will apply from 6 April 2015 to couples (married or civil partners) where neither person pays tax at the 40% or 45% rates. The spouse who cannot use all their personal allowance against their own income will be able to opt to transfer 10% of their personal allowance to their spouse or civil partner.

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The personal allowance is tapered away for individuals who have income over £100,000, at the rate of £1 for every £2 of income above that threshold.

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The allowances have been announced as follows:

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