Part 3Personal reliefs

Chapter 2Personal allowance and blind person's allowance

Personal allowances

35Personal allowance for those F3born after 5 April 1948

F11

An individual who makes a claim is entitled to a personal allowance of F5£8,325 for a tax year if the individual—

F4a

was born after 5 April 1948, and

b

meets the requirements of section 56 (residence etc).

F22

For an individual whose adjusted net income exceeds £100,000, the allowance under subsection (1) is reduced by one-half of the excess.

3

If the amount of any allowance that remains after the operation of subsection (2) would otherwise not be a multiple of £1, it is to be rounded up to the nearest amount which is a multiple of £1.

4

For the meaning of “adjusted net income” see section 58.