personal allowance

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A taxpayer who pays under PAYE on her/his earnings or occupational pension, or who completes a Self-Assessment tax return, will normally receive the basic personal allowance automatically without needing to make a further claim.
Summer jobs You only have to pay income tax on earnings above the personal allowance, which is PS11,500 for the 2017/18 tax year.
With some careful planning in advance of retirement it's often possible for pension contributions to be split between a couple, meaning more of the combined personal allowance is available.
For every PS2 earned above PS100,000, PS1 of the Personal Allowance is taken away.
The introduction of the new personal savings allowance and the increase to the personal allowance will mean a pensioner with 18,500 in pension income, and 1,000 savings income (outside of any ISAs), will pay 1,105 less tax than if the income tax system of 2010-11 applied today.
FARMERS WINNERS There were no changes relating to farmers but they will benefit from the increased personal allowance and, if they are limited companies, from the reduction in corporate tax rates over the next four years.
Campaigners say, however, that many partners - mainly women - earn, or receive in pension payments, far less than the PS10,600 a year Personal Allowance.
This nil savings rate is however proportionately reduced where nonsavings income such as earnings or pension income exceeds the Personal Allowance.
Married couples The Marriage Allowance lets you transfer PS1,060 of your Personal Allowance to your husband, wife or civil partner.
Assuming your wife doesn't earn over the personal allowance, it's a goer.
LAHORE -- Ombudsman Punjab, Javed Mahmood, has ordered of inclusion of Secretariat/Personal Allowance in pensionable emoluments of those pensioners who had been given Personal Allowance from 1994 to 2001 as a part of their salaries.
htm) four times worse off from the increase in VAT to 20% in January 2011 than what they will receive back as the personal allowance tax threshold rises to [pounds sterling]10,000 in 2014.

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