Part 3Personal reliefs
Chapter 2Personal allowance and blind person's allowance
Personal allowances
35Personal allowance for those F1born after 5 April 1948
F2(1)
An individual who makes a claim is entitled to a personal allowance of F3£8,325 for a tax year if the individual—
F4(a)
was born after 5 April 1948, and
(b)
meets the requirements of section 56 (residence etc).
F5(2)
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.