Individuals
Personal Allowances
The standard personal allowance is £12,570 for 2020/21, 2021/22 and 2022/23.
The transferrable marriage allowance applies from 6 April 2015 to couples (married or civil partners) where neither person pays tax at the 40% or 45% rates. The spouse who cannot use all their personal allowance against their own income may opt to transfer 10% of their personal allowance to their spouse or civil partner.
The personal allowance is tapered away for individuals who have income over £100,000, at the rate of £1 for every £2 of income above that threshold.
The allowances for recent years are as follows:
| 2019/20 (£) | 2020/21 (£)* | 2021/22 (£) | 2022/23 (£) | |
|---|---|---|---|---|
| Personal Allowances | £12,500 | £12,500 | £12,570 | £12,570 |
| Minimum married couples allowance | £3,450 | £3,510 | £3,530 | £3,530 |
| Maximum married couples allowance | £8,915 | £9,075 | £9,125 | £9,125 |
| Marriage allowance | £1,250 | £1,250 | £1,260 | £1,260 |
| Blind person's allowance | £2,450 | £2,500 | £2,520 | £2,520 |
| Income limit for allowances for Married couple’s allowance | £29,600 | £30,200 | £30,400 | £30,400 |
| Income limit for standard allowances | £100,000 | £100,000 | £100,000 | £100,000 |
| Personal allowance removed completely at: | £125,000 | £125,000 | £125,140 | £125,140 |
*2020/21 figures were announced in the 2020 Spring Budget and are subject to enactment.
Ready to let Sandison Lang do all the hard work for you?
Join over 3,000 clients who rely on us to ensure their finances run smoothly.