unused personal allowances

unused personal allowances

Didn't find your answer?

I thinking of the situation where an individual is not working (such as a woman perhaps staying at home with children) what will happen to that personal allowance if it is not used, can it be transferred to husband for example?
Thanks
lynne willerton

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By ntipping
28th Jan 2005 09:55

Can't do it
Personal allowances can't be transferred between spouses. However, income producing assets (i.e. shares, rental property etc) can be transferred to a non-working spouse in order for them to utilise personal allowances/basic and lower rate bands etc.

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By User deleted
29th Jan 2005 15:00

At One Time....
some unused allowances of the husband could be transfered to the wife. Or was it the other way? I think I'm right. However it was all a bit sexist and no good to the majority of taxpayers. So it had to go. Maybe this is what you are searching for? Now obsolete tax legislation. Apart from those still qualifying for the MCA or blind persons allowance, they can still do this in certain circumstances.

th

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By Helen Crowley
28th Jan 2005 09:46

Personal
The Personal Allowance is just that, it can't be transferred to a spouse or anyone else. If it isn't utilised in any year it is simply lost. (N.B. Children also have a Personal Allowance and again if not utilised it is lost)

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