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Date: 30th September 1990
Service: ORACLE
Region: N/A
Original Broadcast Channel: Channel 4
Current Page: 635
Note:If this page has sub-pages, they will all appear in a line!
P635 ORACLE 635 Sun30 Sep C4 2351:13 1/6 RATES FOR THE 1990/91 TAX YEAR Personal allowance £3,005 Married couple's allowance £1,720 Additional allowance (for people raising a child alone) £1,720 Age allowances if income is below £12,300 Up to 74 75+ Personal allowance £3,670 £3,820 Married couple's £2,145 £2,185 allowance Your Money guide 630 Letters 636SELLING YOUR HOME? SPECIAL OFFER 2WKSFOR THE PRICE OF 1! see 685(C4) Letters Trusts Nat Savings City
P635 ORACLE 635 Sun30 Sep C4 2351:23 2/6 RATES FOR 1990/91 TAX YEAR Taxable income bands (ie after personal allowances have been deducted) £0 — £20,700........ 25% £20,700 plus........ 40% ---------------------------------------Company car/fuel benefits tax Under 4 Plus 4 Fuelyrs old yrs old Up to 1400cc £1,700 £1,150 £4801401cc - 2000cc 2,200 1,500600 above 2000cc 3,550 2,350 900 Cars with original market value of: £19,250-£29,000 £4,600 3,100 Over £29,000 £7,400 4,900 NB Figures taxable, not payable more >Your Money guide 630 Letters 636Letters Trusts Nat Savings City
P635 ORACLE 635 Sun30 Sep C4 2352:02 3/6 Inheritance Tax (1990/91 rates) Tax Band Up to £128,000 Nil Over £128,000 40% Calculation includes the value of your home, but you can mitigate the effects of the tax. Seek professional advice. Capital Gains Tax 1990/91 An exemption of £5,000 applies per person. Realised gains in excess of this are taxed at an individual's highest tax rate. Losses can be used to offset gains and indexation tables (following) take account of inflation. more > Your Money guide 630 Letters 636Letters Trusts Nat Savings City
P635 ORACLE 635 Sun30 Sep C4 2351:57 4/6 Capital Gains Tax You pay this tax when you sell some- thing you own at a profit — but there are some exceptions like your home and car. In 1990/91 you can make a gain of up to £5,000 without incurring CGT. "Indexation" gives you extra to counter the effects of inflation. Over the page are the indexation figures for assets sold in August. Find the month you bought the asset and multiply it by the original value. For example, an asset worth £5,000 in May, 1982 is: 0.569 x 5,000 = £2,845. You take this off the amount you sold it for, thus reducing tax liability. more >Your Money guide 630 Letters 636Letters Trusts Nat Savings City
P635 ORACLE 635 Sun30 Sep C4 2351:07 5/6 Indexation for assets sold in August: 1982 1983 1984 1985 January - 0.551 0.475 0.405 February - 0.544 0.469 0.393 March 0.612 0.541 0.464 0.380 April 0.581 0.520 0↑445 0.352 May 0.569 0.513 0.440 0.345 June 0.565 0.510 0.436 0.343 July 0.565 0.502 0.438 0.345 August 0.564 0.495 0.424 0.342 September 0.565 0.489 0.422 0.342 October 0.557 0.483 0.413 0.340 November 0.550 0.478 0.408 0.336 December 0.553 0.474 0.410 0.334 Use "hold" if required more follows >Your Money guide 630 Letters 636Letters Trusts Nat Savings City
P635 ORACLE 635 Sun30 Sep C4 2351:18 6/6 Indexation for assets sold in August: 1986 1987 1988 1989 1990 Jan 0.331 0.281 0.240 0.154 0.072 Feb 0.326 0.276 0.235 0.146 0.066March 0.324 0.273 0.231 0.141 0.055 April 0.312 0.558 0.211 0.121 0.024May 0.309 0.257 0.206 0.114 0.015 June 0.310 0.257 0.202 0.110 0.011July 0.314 0.258 0.201 0.109 0.010 Aug 0.310 0.255 0.187 0.106 Sept 0.303 0.251 0.182 0.099 Oct 0.301 0.245 0.170 0.090 Nov 0.290 0.239 0.165 0.081 Dec 0.286 0.240 0.161 0.078 Use 'hold' if required start >Your Money guide 630 Letters 636Letters Trusts Nat Savings City