Personal Allowance Calculator - work out the whether your personal allowance will be restricted.
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The purpose of this calculator is work out:
- Whether your personal allowance will be restricted due to the changes that came into effect on 06/04/2010.
From that date, the personal allowance will be restricted for those earning over £100,000 per annum. Anybody earning less than this will contain to receive the full allowance.
The levels of allowance are currently:
- Aged Under 65: £7,475.00
- Aged 65-74: £9,940.00
- Aged 75 or over: £10,090.00
For every £2 of income that exceeds £100,000, the personal allowance will be reduced by £1
For those earning £112,950 or more, the personal allowance will be reduced to zero and all income will be taxable.
The figures projected by this calculator are only for guidance purposes - whilst we aim to ensure the accuracy of our calculators, we can take no responsibility for the usage made of the calculations generated on this site.