The Accountants for Growth

Couples - Making the most of your personal allowance

The government has announced that from April 2015 married couples and civil partners may be eligible for a new Transferrable Tax Allowance. This Allowance will enable spouses and civil partners to transfer a fixed amount of their personal allowance to their partner.

The option to transfer will be available to couples where one partner is a basic rate tax payer (earning below £42,285 in 2015/16) AND the other partner has unused personal allowances for the year. The fixed amount will be set at £1,000, thus an individual will be able to transfer £1,000 of their personal allowance to their spouse or civil partner. It will mean that the higher earner will be able to earn £1,000 more before they start paying income tax. Couples who claim this Allowance, based on today’s rates could save up to £200 in tax. 

The claim will be made online and the entitlement will be from the 2015/16 tax year. Couples will be entitled to the full benefit in the first year of marriage.


Follow us on Twitter and Like us on Facebook for more business related tips and information!


The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal or accounting advice and should not be relied upon as advice. Please see our website's terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact us and one of our accountants will be happy and able to advise you on your own particular circumstances.

Annual Christmas Parties
Beware: Spam Email

Related Posts