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Where Taxpayers and Advisers Meet

Marriage Allowance Transfer

PensionerToBe
Posts:13
Joined:Mon Jun 12, 2017 9:22 pm
Marriage Allowance Transfer

Postby PensionerToBe » Mon Jan 31, 2022 3:24 pm

My wife (a non taxpayer) wishes to transfer10% of her personal allowance to me.

I am a basic rate taxpayer, but in the last tax year did benefit from and pay tax on, a property gain

- In simple terms - income £40k (before personal allowance),
- Gain after CGT allowance £20k
- Tax paid - £10k @ 18% & £10k at 28%

Although some of the CGT tax is charged at the CGT higher rate am I right in thinking this would not impact of the marriage allowance transfer?

Thanks

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Marriage Allowance Transfer

Postby robbob » Mon Jan 31, 2022 3:33 pm

Strangely i think you may be ok bit time pushed to prove it today - if not transfer will be rejected so if in doubt and there is no down side to giving it a go as all they do is say no can do.

PensionerToBe
Posts:13
Joined:Mon Jun 12, 2017 9:22 pm

Re: Marriage Allowance Transfer

Postby PensionerToBe » Mon Jan 31, 2022 5:54 pm

Thanks - V helpful and if no downside.....


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