TRANSFER OF PERSONAL ALLOWANCEForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › TRANSFER OF PERSONAL ALLOWANCEThis topic has 1 reply, 2 voices, and was last updated 3 years ago by Tax Tutor.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts March 19, 2021 at 11:37 am #614766 YovinParticipantTopics: 25Replies: 1☆Hi Sir, If a transferee spouse is a basic rate taxpayer and has only dividend income, when receiving the marriage allowance of £1250 from the transferor , its tax liability will be reduced by :(a) 1250×20% = £250 OR (b)1250×7.5% =£93.75 March 24, 2021 at 5:34 pm #615139 Tax TutorMemberTopics: 2Replies: 3965☆☆☆☆☆The tax credit will be at basic rate and equal to £250 – but remember it cannot create a tax repaymentAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In