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 £7,420 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 £20,100, the allowance under subsection (1)—
a
is reduced by half the excess, but
b
is not reduced below the amount of a personal allowance under section 35.
3
For the meaning of “adjusted net income” see section 58.