It was announced in the Budget that from 2013/14 the higher age related personal allowances will not be increased and their availability will be restricted to people born on or before:
- 5 April 1948 for the £10,500 allowance
- 5 April 1938 for the £10,660 allowance.
This has been labelled the 'granny tax' by many as the increased allowances will no longer be available to those reaching age 65 and 75 respectively.
Internet link: HMRC Budget information