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Age related personal allowance
Comments
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jennifernil wrote: »If your wife is not working and has no pension of her own, she will be able to claim a pension on your contributions once you are 65.
....and this will be her income which she can set against her personal tax allowances. Her income will be 60% of yours if she claims against your contributions.I thought until I read on here that we only had about 7K allowance total for both of us?
You do not get tax allowances for both of you. Individual personal tax allowances came in April 1990. You each have a personal tax allowance whether you have an income or not.
The only difference in this is if one of you was born before April 1935 - it's called the married tax allowance and it's possible to split it between you, to set against your individual incomes along with the personal tax allowance. However, you're too young for that to apply to you.[FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
Before I found wisdom, I became old.0 -
margaretclare wrote: »You do not get tax allowances for both of you.
As others have said already.....0
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