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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Please advise if Transfer of the balance of Personal Allowances

Customer Question

Please advise if Transfer of the balance of Personal Allowances from wife to husband is allowed.

Thank you
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.

If either you or your spouse was born before 6 April 1935, the spouse with the higher income would be entitled to the married couples' allowance which would reduce their overall tax bill by a maximum of £816.50 (£8,165 x 10%). However, as with the age allowance, the married couple's allowance starts to be lost at an income level of £27,000 per annum but you will always be left with a minimum of £3,140 which is worth £314.00 in tax terms.

As of now, it is not possible for the unused personal allowances of one spouse to be transferred to the other spouse. However, as you can read here, from 6 April 2015, up to £1,000 or £1,050 of the personal allowance depending on your age and the personal allowance you already get, may be transferred to the other spouse.

You can read about the married couple's allowance here and see the personal allowances here.

I hope this helps but let me know if you have any further questions.