Part 3Personal reliefs

Chapter 2Personal allowance and blind person's allowance

Personal allowances

37Personal allowance for those aged 75 and over

(1)

An individual who makes a claim is entitled to a personal allowance of F1£9,640 for a tax year if the individual—

(a)

is 75 or over at some time in 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 F3the 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.