• ICAEW
  • KASHFLOW

 

0161 928 3276

 

 

We understand our clients

Individuals

Personal Allowances

The standard personal allowance is £11,500 for 2017/18. Autumn 2017 Budget announced that the allowance will rise to £11,850 from 6 April 2018.

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:

2016/17 (£) 2017/18 (£) 2018/19 (£)
Personal Allowances 11,000 11,500 11,850
Minimum married couples allowance* 3,220 3,260 3,360
Maximum married couples allowance* 8,335 8,445 8,695
Marriage allowance 1,100 1,150 1,185
Blind person's allowance 2,290 2,320 2,390
Income limit for allowances for Married couple’s allowance 27,700 28,000 28,900
Income limit for standard allowances 100,000 100,000 100,000
Personal allowance removed completely at: 122,000 123,000 123,700

*2018/19 figures were announced in the 2017 Autumn Budget and are subject to enactment.

 

To work Smarter in your Business Contact Beauchamp Charles

Contact Us

"Join our newsletter for hints, tips and tax advice"

 

What our clients say

Dakins Property Services

Great Results, Personable, High Integrity

Choice Events Limited

All at Beauchamp Charles are very helpful, approachable and easy to talk to. They keep me informed with key dates; I can feel totally confident that I won't ever miss any deadlines! Whoever I deal with, always deal with matters professionally and efficiently and if they are unavailable they get back to me promptly.

FT leisure Ltd

I have worked with Beauchamp Charles as our management accountants for over 20 years and have never received anything less than exceptional service. Their approach is both professional and personal. Finances and particularly tax strategies are a minefield for small businesses; Beauchamp Charles have in-depth knowledge of these area, which is comforting. They pay very close attention to our business activities and have provided financial strategies that have helped our company develop.

Fredrick Thomas Electrical and Maintenance

We have used Beauchamp Charles since company formation back in 1998. Beauchamp Charles offers us a one to one service as they are small enough to offer this dedicated service and large enough to do the work and offer best advice. They get to know us as individuals and a business, always giving sound advice. Frederick Thomas Electrical are in a stronger place thanks to the service we get from them.

Barnes Walker Landscapes Limited

We are a small business and had employed the same accountancy firm for many years. Two years ago we took the decision to switch to Beauchamp Charles after several othe local businesses recommended them very highly to us. We have not been disappointed with the service they have provided to us over these last two years.