Over 65 Question

T.C.

Good evening
I have had a question from a client and I am not sure of the answer. If a person is 65 during the year, does the allowance for over 65's come in at the beginning of that year or in the year following the birthday? I am assuming the latter??? Thanks.

MarieNoelle

Hi T.C.
From HMRC website
"If you become 65 or 75 during the year to 5 April 2013, you are entitled to the full allowance for that age group."

MN

T.C.

Oh thanks. So from that statement we can assume that it is taken for the whole year in which the client turns 65. You agree?

SarahJS

Yes, that is the case currently.

However, for 2013/14 age allowances are changing - if you were born between 6 April 1938 and 5 April 1948 you qualify for the higher allowance of £10500 (£10660 if pre 6 April 1938).

So unless your client is already entitled to age allowance, they won't get any!


http://www.hmrc.gov.uk/rates/it.htm

T.C.

Thanks. They turned 65 in the year 2012/13 so can at least get that extra little bit of allowance then.