1st Friday
Tax Chat

Married couples allowance

Married couples allowance

Married couples allowance: The Autumn Statement confirmed that certain married couples will be able to transfer £1,000 of their personal allowance to their spouse with effect from April 2015.

However this proposal will be subject to tight conditions and it appears that only one-third of married couples will benefit.  For instance, the ability to transfer will not be available to higher rate tax payers.

As a result it will still be preferable in most cases to consider the allocation of income between spouses to manage the family tax position.

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