personal allowance

(redirected from Personal Allowances)
Also found in: Dictionary, Legal, Wikipedia.

Personal Allowance

1. In the United Kingdom, income that is not taxed because it falls below the level at which income is taxed. For example, if one has an income of 6,000 pounds and a personal allowance of 5,000 pounds, one only pays taxes on the final 1,000 pounds. See also: Personal exemption.

2. See: Alimony.

personal allowance

References in periodicals archive ?
The Personal Allowance continues to be reduced for those with income above PS100,000 and it is withdrawn completely where income exceeds PS121,200.
Soon after a takeover in October 2011, an investigation into the outgoings of residents' personal allowance accounts was undertaken following a complaint made by a resident's family.
The government is committed to increase this Personal Allowance to pounds 10,000 by the 2015 - 2016 tax year but as this will be accompanied by a corresponding reduction in the 40 per cent tax threshold it is claimed that this will increase the number of higher rate tax payers by a further 850,000.
Awareness was particularly low among people on lower incomes, the group that the personal allowance benefits the most.
Like others, he will benefit from the increase in personal allowances, but will be harmed by the VAT increase.
A YES, invest in ISAs, make full use of personal allowances - and check your tax code.
Since the decision was made to increase personal allowances from 800 to 3,200 cigarettes the level of legitimate crossborder shopping has increased dramatically.
Although tax rates are almost untouched, a decision not to raise thresholds for personal allowances and national insurance will bring in a huge pounds 650million.
Other payments: accrued leave on separation; mustering out; personal allowances paid to high-ranking officers; student loan repayment from certain programs (i.
Pay for accrued leave on separation, mustering out and personal allowances to high-ranking officers.
4 million people simply by misuse of tax- free personal allowances - mainly involving married couples where only one spouse is working.

Full browser ?