- This topic has 1 reply, 2 voices, and was last updated 1 year ago by .
- You must be logged in to reply to this topic.
PQ Awards Nominations
Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
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
The tax credit will be at basic rate and equal to £250 – but remember it cannot create a tax repayment