skip to navigationskip to main content
Accountants Cowley Holmes Chartered Accountants Excellence award
Business accountants SME tax Accountants in Bedfordshire Best accountants in Bedford

Tax Rates & Allowances

Back to Tax Rates & Allowances

Individuals

Personal Allowances

The standard personal allowance is £12,500 for 2019/20.

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:

2018/19 (£) 2019/20 (£) 2020/21 (£)*
Personal Allowances £11,850 £12,500 £12,500
Minimum married couples allowance £3,360 £3,450 £3,510
Maximum married couples allowance £8,695 £8,915 £9,075
Marriage allowance £1,190 £1,250 £1,250
Blind person's allowance £2,390 £2,450 £2,500
Income limit for allowances for Married couple’s allowance £28,900 £29,600 £29,600
Income limit for standard allowances £100,000 £100,000 £100,000
Personal allowance removed completely at: £123,700 £125,000 £125,000

*2020/21 figures were announced in the 2020 Spring Budget and are subject to enactment.



Click here to see how easy it is to switch to Cowley Holmes

FREE Consultation

Worth £200 for Free Call us on
01234 355300 or click on the button below

Click Here

Fixed Fee Quote

Call us on
01234 355300 or click on the button below

Click Here

Sign up to our Tax &
Business Tips Newsletter

Ask an
Accountant a Question

Click Here

Become a Client

To find out 8 great reasons why you should get a quote.

Click Here

Claim your FREE Essential Guide to Understanding your accounts