P221CEEFAX 221 Wed 19 Oct 12:01/41   1/3     TAX GUIDE (1)  + Income tax is assessed on personal incomj only after your incomj exceeds the totals below. These are known as tax-eree personal allowances. 1987/88 1988/89 Single Married Single Married £2,425 £3,795 £2,605 £4,095 + If, however, you are 65 or over or can expect capital gains of more than £5,000 in the current tax year, see the following pages.  More Rates MoneyFile EconoData Headlines

P221CEEFAX 221 Wed 19@Oct 12:02/14   2/3     TAX GUIDE X2) + If you are 65 or over at the end of the tax year, the tax-free portion of your income is as follows. 1:87/88 1:88/89 Single Married Single Married £2,960 £4,675 £3,180 £5,035 + If, however, your personal income exceeds £9,800 in 1987/88, you lose £2 of your age allowance for every £3 by which your income exceeds £9,800. NB Your personal allowance remains intact however great your income. + Check next page for your tax bracket.  More Rates MoneyFile EconoData Headlines

P221CEEFAX 221 Wed 19@Oct 12:02/47   3/3     TAX GUIDE (3) + After deducting allowances (preceding pages) your income is taxed as follows: 1987/88 % 1988/89 % First@£17,:00 27 First £19,300 25 £17,901-£20,400 40 £19,301 upwards 40 £20,401-£25,400 45 £25,401-£33,300 50 £33,301-£41,200 55 £41,201 upwards 60 NB Taxable income is arrived at after deducting personal allowances, mortgage interest, pension contributions, etc.  More Rates MoneyFile EconoData Headlines