What's my personal allowance?

What's my personal allowance?



Each of us has a 'personal allowance', which tells us the amount we can earn without paying any income tax. If you earn more than your personal allowance, then you will pay tax at the applicable rate on all earnings above the personal allowance, but the allowance remains untaxed

Your personal allowance depends on your age and, in some cases, your salary

What's my 2017/18 personal allowance ?
The current tax year is from 6 April 2017 to 5 April 2018
Age Earning bracket 2017/18 personal allowance
Born after 5th April 1948 Under £123,000 £11,500
£100,000 to £123,000 Decreases from £11,500 by £1 for every £2 you earn, until it reaches £0
Over £123,000 £0
Costs you can claim as allowable expenses include :

     Office costs - Stationery, equipment or phone bills

     Home office - Room in your house used for business only

     Travel costs - What you spend to get to work - fuel, parking, train or bus fares

     Clothing expenses - Uniform / workwear

     Staff costs - Salaries or subcontractor costs

     Things you buy to sell on - Stock or materials to make your product

     Financial costs - Insurance or bank charges

     Costs of your business premises - Gas / Electric for heating & lighting, business rates

     Advertising / Marketing - Website costs, newspaper, magazine or radio ads


Extra allowances
Marriage allowance Your Personal Allowance may be bigger if you claim
Are you blind? Your personal allowance + £2,320


* For a further in depth explanation of your Tax Implications - Please Go to the HMRC/current-rates-and-allowances website for full details



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