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Feb 27, 2015

Transferable Tax Allowances

Transferable Tax Allowances for married couples and civil partners - make sure you are not missing out!

As part of the 2014 Budget, this allows a spouse or civil partner (who is not liable to income tax above the basic rate) to transfer £1050 of their personal allowance to their spouse / civil partner (again, providing the recipient of the transfer is not liable to income tax above the basic rate). This can provide a monetary benefit to a spouse or civil partner whose income is less than their personal allowance.

For further information on this - or any other personal financial query: contact us!

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