age allowance


age allowance
The personal allowance available to taxpayers aged 65 and over. The age allowance for taxpayers aged 65–74 is £7090 and for those 75 and over is £7220, for 2005–06. There is an income limit of £19,500 for age allowance. The allowance is reduced at a rate of £1 off the allowance for every £2 by which the income exceeds the income limit, until the basic personal allowance is reached.

Accounting dictionary. 2014.

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  • age allowance — The personal allowance available to taxpayers aged 65 and over. The age allowance for taxpayers aged 65 74 is £7090 and for those 75 and over is £7220, for 2005 06. There is an income limit of £19, 500 for age allowance. The allowance is reduced… …   Big dictionary of business and management

  • allowance — 1 *ration, dole, pittance Analogous words: allotment, apportionment, assignment (see corresponding verbs at ALLOT): share (see corresponding verb SHARE): grant, *appropriation, subsidy 2 Allowance, concession both signify a change made by way of… …   New Dictionary of Synonyms

  • allowance — /əˈlaʊəns / (say uh lowuhns) noun 1. a definite amount or share allotted; a ration: *A queer economic, which sustained the large Bradly and the small Edmund on an equal allowance of food. –norman lindsay, 1938. 2. a definite sum of money allotted …   Australian English dictionary

  • allowance — Synonyms and related words: C ration, K ration, OK, abatement, acceptance, account, acknowledgment, adjustment, admission, agio, aid, alimony, allocation, allotment, allowing, annuity, apportionment, appreciation, appropriation, approximation,… …   Moby Thesaurus

  • allowance race — Horse Racing. a race in which each horse is assigned a specified weight according to age, record of past performance, sex, etc. * * * …   Universalium

  • allowance race — Horse Racing. a race in which each horse is assigned a specified weight according to age, record of past performance, sex, etc …   Useful english dictionary

  • personal allowance — The allowance to which every individual resident in the UK is entitled in calculating their taxable income for income tax. The allowance depends on the age of the taxpayer (see age allowance). For 2005–06 the personal allowance for those under 65 …   Accounting dictionary

  • personal allowance — The allowance to which every individual resident in the UK is entitled in calculating their taxable income for income tax The allowance depends on the age of the taxpayer (see age allowance). For 2005 06 the personal allowance for those under 65… …   Big dictionary of business and management

  • Jobseeker's Allowance — (JSA) is a United Kingdom benefit, colloquially known as the dole (or, in Northern Ireland Scotland, as broo).[1] It is a form of unemployment benefit paid by the government to people who are unemployed and seeking work. It is part of the social… …   Wikipedia

  • Disability Living Allowance — Disability Theory and models …   Wikipedia