Say wife has £14k rental profit before mortgage interest restriction, and then an additional £6k of mortgage interest expense, and no other income.
Husband is basic rate.
Can wife transfer £1,250 marriage allowance over to husband?
My thinking is no, becuase wife's income is actually above the personal allowance (and the £6k mortgage interest is then a tax credit rather than reducing her income).
However, I'm doubting myself becuase on the Gov website it states you can transfer if "you do not pay income tax OR your income is below your personal allowance"...Well, wife does not pay income tax, so this condition is then met, suggesting she could transfer it.
I know the Gov website isn't the actual legistlation and shouldn't be treated as gospel, so is this just a case of an ambiguous sentence on there, and my original thinking that she cannot transfer is correct?
Thank you for any help!