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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4330
Experience:  FCCA FCMA CGMA ACIS
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I have £3,000 of my personal allowance that I havent used.

Customer Question

I have £3,000 of my personal allowance that I haven't used. My wife is £757 over her allowance of £9440 (including £807.49 of interest from a Building Society). This means that she pays tax on her investment with the Building Society. Can my unused allowance or part of it be used to offset my wife's tax?
Thanks,
XXXXX XXXXX.
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.

Hello David, I'm Keith and happy to help you with your question.

 

Normally no, spouses have been separate for tax purposes for many years now. However, there may be a loophole, if either of you were born before 6 April 1935. If this is not the case then, regrettably, no loophole exists.

Customer: replied 3 years ago.

Hmm..


I thought that unused allowances from one spouse could be transferred.


Obviously not.


Thanks.

Expert:  bigduckontax replied 3 years ago.

It effectively can, but only if one or other is old enough and it actually not a transfer, but another allowance, Married Person's.