Income Tax Act 2007

36 Personal allowance for those aged 65 to 74 U.K.

(1) An individual who makes a claim is entitled to a personal allowance of [F1 £9,490] for a tax year if the individual—

(a) is 65 or over at some time in the tax year, but under 75 throughout the tax year, and

(b) meets the requirements of section 56 (residence etc).

(2) For an individual whose adjusted net income for the tax year exceeds [F2 £22,900], the allowance under subsection (1)—

(a) is reduced by half the excess, but

(b) is not reduced below [F3 the amount of any allowance to which the individual would be entitled under section 35 if under the age of 65 throughout the tax year].

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

Textual Amendments

F1 Word in s. 36(1) substituted (24.11.2008 for tax year 2009-2010) by The Income Tax (Indexation) (No. 3) Order 2008 (S.I. 2008/3023), art. 4(b)

F2 Word in s. 36(2) substituted (24.11.2008 for tax year 2009-2010) by The Income Tax (Indexation) (No. 3) Order 2008 (S.I. 2008/3023), art. 4(h)

F3 Words in s. 36(2)(b) substituted (with effect in accordance with s. 4(4) of the amending Act) by Finance Act 2009 (c. 10), s. 4(2)