Transferring Unused Tax Allowance

silvasava

Dont know if anyone can give me some advice/info. I took voluntary redundancy 3 years ago at 62. I only had a very small pension on my DH's contributions.
I understand that I can transfer any unused portion of my tax allowance to my husband (he has a small co pension on top of state pension & pays some tax)
If that is so can I also get it backdated to when I left work?

Thanks!

Torry_Quine

You cannot transfer your unused tax allowance to anyone else I'm afraid. If you don't need it then it is just lost.

MacMickster

Sorry silvasava. I think that you've been misinformed. Everyone's Personal Allowance for tax is exactly that - Personal, and can't be transferred.

silvasava

Oh B*m - thought we might be able to get a bit back!

Many thanks for the info TQ & MM - knew I'd get a prompt & accurate reply (& its quicker & cheaper than phoning the tax office!!)

barak

It doesn't apply to many people and the allowance isn't very generous, but it's possibly worth mentioning here that those old enough to be entitled to Married Couple's Allowance can transfer unused parts of that allowance to their spouse or partner.

Married couple's allowance may be claimed if either you, your spouse or civil partner were born before 6 April 1935, and
• you are a married man or woman who married before 5 December 2005, or
• you are a married man, married woman or a civil partner who married or formed a civil partnership on or after 5 December 2005
and you were living with your spouse or civil partner for all or part of the tax year you are claiming the allowance for. The rule
about living together also applies where you are considering transfer of surplus allowances.

zygurat789

Alternatively it is possible to transfer most income except salary and/or pension to the person with the unused allowances.

silvasava

Thanks Barak - I knew I'd seen something about unused tax allowances that raised my antennae! But neither of us are old enough to qualify.

Unfortunately Zygerat789 all our income is small pensions

Many thanks for the replies

zygurat789

silvasava wrote: »

Thanks Barak - I knew I'd seen something about unused tax allowances that raised my antennae! But neither of us are old enough to qualify.

Unfortunately Zygerat789 all our income is small pensions

Many thanks for the replies

Not even a small savings account!

silvasava

We have funds in a drawdown scheme but that's a whole other ball game!!