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    Yes, Jan - if you are over 65 you get an age allowance as well as the normal allowance. This year the age allowance increases your tax-free income to £9,490 from £6,475 that applies to us under 65.

    I do not know whether the £3k age allowance will rise with the increased personal tax allowance and I suppose we will find out in the budget. But, of course, if your income is sufficient you too would benefit from higher nil rate band anyway.

    Incidentally, if your taxable income over age 65 is £22,900 or more then the age allowance is lost and at approx £29,000 you would have only the standard personal allowance left.

    DT - Do you know something about George Osborne's tax affairs that no-one else does? Be a bit careful answering if I was you... I would hope that GO does get some sensible financial advice such as I provide to my clients on how they can mitigate their tax so they only pay what they are legally obliged to pay. Such as saving many pensioners from losing their age allowance (mentioned above) unnecessarily. Its not only the wealthy who can gain from sensible tax planning.

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