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272/2 CEEFAX1 Fri 3 Feb CEEFAX.TV
THE AGE ALLOWANCE 2/2
People qualify for the full age
allowance in the tax year in which
their 65th birthday falls, so long as
their "total income" does not exceed
£22,900 in the year to 5 April 2010
(£21,800 in the year to 5 April 2009).
Total income includes all income
(except tax-free income) less certain
tax-deductible payments.
If the total income exceeds £22,900,
then the age allowance is scaled down
by £1 for every £2 of income until it
reaches the amount of the basic
personal allowance.
Source: Ernst & Young LLP (see p271)
Your Money 250 Headlines 200

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