Married couple, only one taxable income.

btb53

Married and we are both under 60. I'm receiving a company pension and pay tax on it, my wife doesn't work. A friend has said I can claim my wife's unused tax allowance to reduce the tax I'm liable to pay, is this correct?

j-josie

Sorry, no you can't.

Broadwood

j-josie wrote: »

Sorry, no you can't.

This is true, but you can put any savings in your wife's name so that she can then use her tax allowance to claim some or all of the interest gross - depending how much interest is earned.

Any Little Helps.

barak

btb53 wrote: »

...A friend has said I can claim my wife's unused tax allowance to reduce the tax I'm liable to pay, is this correct?

You are not old enough for the Married Couple's Allowance! This is what your friend may have been referring to -

"Who can claim Married Couple's Allowance?"

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/IncomeTax/Taxallowancesandreliefs/DG_078312