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Taxopedia  ›  T  ›  Tax allowance
T · Glossary

Tax allowance

Income or gains you can earn without paying tax (Personal Allowance, ISAs, etc.).

A tax allowance is an amount you can earn or accumulate without paying tax. Main UK allowances: Personal Allowance £12,570, Marriage Allowance £1,260 transferable, Trading Allowance £1,000, CGT Allowance £3,000, Dividend Allowance £500, ISA £20,000.

Related terms

Personal AllowanceTax-free annual income — £12,570 (2025/26), tapered above £100,000.Tax deductionsAllowable expenses or reliefs that reduce taxable income or profit.

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