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.