Income Tax Personal Allowance

pogo16769

Hi there

can anyone tell me if can use part of my wife personal allowance, she is a full time course and is not earning a wage. Can I use her allowance to offset my tax. I thought that you could but can find not listing of it.

Thanks Andy

jennifernil

No, you cannot.

tyllwyd

You can't use her personal allowance, but she can, so if you have savings interest etc that you currently pay tax on, you could transfer the savings to her name (although there may be other reasons why you might not want to do that, of course).

donquine

pogo16769 wrote: »

Hi there

can anyone tell me if can use part of my wife personal allowance, she is a full time course and is not earning a wage. Can I use her allowance to offset my tax. I thought that you could but can find not listing of it.

Thanks Andy

As said above, it may be more tax efficient for some savings/investments to be held in her name. You could, for example, both open ISAs and maximise your tax free savings for each year.

With regards to making use of her lower tax rate when it comes to employment income, this is possible in certain circumstances where you own your own company. (Sort of situation where you would pay for professional advice, not get it through a forum like this.)

If you are just a regular employee, then no, you can't benefit from her personal allowance to minimise the tax on money derived from your work.

Hope that helps.