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TRANSFER OF PERSONAL ALLOWANCE

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › TRANSFER OF PERSONAL ALLOWANCE

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  • March 19, 2021 at 12:33 pm #614770
    Yovin
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    • Topics: 26
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    • ☆

    Hi Sir,
    If a transferee spouse is a basic rate taxpayer and has only dividend income , when receiving marriage allowance from the transferor, its tax liability will be reduced by:

    (a)£1250×20%=£250
    OR
    (b)£1250×7.5%=£93.75

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