Marriage allowance 2015/16

What is the transferable amount for 2015/16?

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Per s 55B(4)(a) ITA 2007 the amount seems to be £1,050.

Per almost everywhere else its £1,060.

Can these be reconciled?

I know it's only a £10 diff and only £2 in terms of tax, but I'm a pedantic nitpicker.

 

Replies (3)

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JCACE
By jcace
10th Oct 2017 16:46

When the transferable marriage allowance was first announced, the personal allowance was going to be £10,500. When it came into effect, the PA was changed to £10,600, hence the difference.
Finance Act 2015 amended the original legislation so that the £1,050 was changed to £1,060.

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Replying to jcace:
RLI
By lionofludesch
10th Oct 2017 17:45

It's 10% of the personal allowance. £1050 was right when it was announced but by the time it came into effect, it was £1060.

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Replying to lionofludesch:
JCACE
By jcace
10th Oct 2017 18:05

I think that Mr Trellis' question stemmed from the fact that the legislation referred to an amount for 2015/16, and then for subsequent years it is 10% of the PA. When the legislation was first drawn up (FA 2014) it referred to £1,050 because the PA was going to be £10,500. FA 2015 subsequently amended it to £1,060 as the PA was changed from the originally planned £10,500 to £10,600.

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