Part 3Personal reliefs

Chapter 2Personal allowance and blind person's allowance

Personal allowances

37Personal allowance for those F1born before 6 April 1938

F2F3(1)

An individual who makes a claim is entitled to a personal allowance of £10,660, or (if greater) the section 35 amount, for a tax year if the individual—

(a)

was born before 6 April 1938, and

(b)

meets the requirements of section 56 (residence etc).

(2)

F4If the allowance under subsection (1) is greater than the section 35 amount, for an individual whose adjusted net income for the tax year exceeds F5£27,700, the allowance under subsection (1)—

(a)

is reduced by F6an amount equal to half of that excess income, but

(b)

is not reduced below F7the F8section 35 amount.

F9(2A)

In this section “the section 35 amount” means the amount of any allowance to which the individual would be entitled under section 35 for the tax year if the individual had been born after 5 April 1948.

(3)

For the meaning of “adjusted net income” see section 58.