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Personal allowance definition
Personal allowance is the amount of income a person can receive without being taxed.
Personal allowance definition
Personal allowance is the amount of income a person can receive without being taxed.
In the UK, personal allowance is the threshold above which income tax is levied on your income. Any income earned up to the personal allowance level is untaxed, no matter how much you earn. Individual circumstances may have an effect on the size of your personal allowance, however.
In addition to your personal allowance, UK residents can also get relief on income tax by using tax wrappers, such as an ISA or a SIPP. These products allow you to invest up to a certain limit with various levels of relief from income tax.
IG Smart Portfolios
Invest in an expertly managed portfolio, at a fraction of the cost of traditional wealth managers and independent financial advisors (IFAs), with an IG Smart Portfolio.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA, a SIPP or an IG Smart Portfolio can fall as well as rise, which could mean getting back less than you originally put in. Spread bets and CFDs are leveraged products and can result in losses that exceed deposits. Spread betting and CFD trading are not permitted within the IG SIPP. Please ensure you fully understand the risks and take care to manage your exposure.
iShares® and BlackRock® are registered trademarks of BlackRock, Inc. and its affiliates (“BlackRock”) and are used under license. Further, BlackRock, Inc. and its affiliates including, but not limited to, BlackRock Investment Management (UK) Limited, are not affiliated with IG Markets Limited and its affiliates. Accordingly, BlackRock makes no representations or warranties regarding the advisability of investing in any product or service offered by IG Markets Limited or any of its affiliates. BlackRock has no obligation or liability in connection with the operation, marketing, trading or sale of any product or service offered by IG Markets Limited or any of its affiliates.
