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Can I have some of my husbands tax allowance
spindlegs
Posts: 13 Forumite
in Cutting tax
We are retired couple and I only receive a small pension which is approximately £90 per week.
My husband is paying tax on his pension, is it possible for me to use up some of his tax allowance?
My husband is paying tax on his pension, is it possible for me to use up some of his tax allowance?
0
Comments
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either you or your husband has to have been born before 6 April 1935 in order to be allowed to transfer some of the married couple allowance
if neither of you were born before that date then sadly you cannot transfer unused personal allowance - the married couple allowance was aboliished for anyome born after that date
there is some guidance here on HMRC site
edit post Clapton
although you can only transfer allowance in the circumstances outlined in the HMRC guide, as Claption says if you put income in your name rather than your husbands then that money will be assessed against your allowance not your husbands.
Obviously you cannot transfer his pension into your name, but if you have joint savings accounts then they should be put in your name only instead then you won't pay tax on the interest (provided you remain within your total alowance)0 -
he can transfer any saving to you so you can receive the interest tax free0
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We are retired couple and I only receive a small pension which is approximately £90 per week.
My husband is paying tax on his pension, is it possible for me to use up some of his tax allowance?
Everyone gets their own personal allowance.
So, if you are under the age of 65 you are entitled to £7,475 tax free in this new tax year (6 APR 2011 to 5 APR 2012)
If you are aged between 65 and 74 then you are entitled to £9,940 tax free, and for 75 and over it is £10,090 tax free.
So, at £90 per week you are well below your tax free allowance and should not pay any tax.
Assuming that you have no other income that would take you over the above allowances. (Savings interest etc...)This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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