Age Related Allowances

Since April 2015, the standard tax personal allowance level has been the same whether you are over or under the age of 65.

Age-Related Allowances are additional sums of tax-free income available to people over 65 in the UK. These allowances go by several names, including “personal allowances” and “tax allowances.” The Age-Related Allowances structure featured a basic allowance and a higher allowance. People born before April 6, 1938, were eligible for the basic allowance, whereas those born between April 6, 1938, and April 5, 1948, qualified for the higher allowance.

The Age-Related Allowances were intended to provide older people with an additional tax-free income to assist them with their living expenditures. They were among the UK’s several tax breaks and allowances to help people lower their tax obligations.