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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have just received my tax coding notice /6. For

Resolved Question:

I have just received my tax coding notice for 2015/6. For your info, I am 70 years old and my wife is 66. My income is my occupational pension and my gov pension, and my wife simply has a basic gov. pension. Our total gross income is.... mine £25700 wife £3550. I have 2 questions please... * am I entitled this coming year to transfer the extra personal allowance as provided in the Budget from my wife to myself? If so, and I assume that I should be able to do so, how does it work? * On my P2 notice of coding, there is a refererence there, under notes 1, that is confusing me and it says....... " This tax year you are entitled to £10600. £10600 is the personal allowance for people who are between 68 and 77 on 5 April 2016, with a total yearly income of over £27700 or where we do not know your total income. etc..." Have the rules changed on income levels? Russell XXXXXXXX Tax ref...72/W6

Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.

Hello and welcome to the site. Thank you for your question.

You can transfer up to £1,060 of your personal allowance to your spouse provided that the recipient of the transfer is not liable to income tax above the basic rate.

You would have to file supplementary pages SA101-additional information when filing your tax return.

You have stated your gross income is £25,700. Provided your income stays below the income limit of £27,700 in tax year 2015-16, you will be entitled to full personal allowance of £10,600.

This allowance reduces where the individual's income is above the income limit by £1 for £2 above the income limit until it reaches the level of the personal allowance for someone born after 5 Apr 1948.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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Customer: replied 2 years ago.

Hi there,

many thanks..answer is fine.

How do I get hold of the form SA101 that you refer to and is it separate to the tax returns themselves?

Thank you

Russell XXXXXXXX

Expert:  taxadvisor.uk replied 2 years ago.

Russell, thank you for your reply.

The main tax return is SA100.

You can download all self assessment tax forms from this site here

https://www.gov.uk/government/publications/self-assessment-tax-return-sa100#supplementary-pages

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.