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pateladam
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Hi Sir, if Spouse A has income of 12000 and Spouse B has 25000 income for instance.
Could Spouse A tfr £500 worth of PA to spouse B or does it have to be fixed amount enough for £1250
Tax Tutor
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I think you really need to watch the lectures and work through the study notes – the first line of the notes is a s follows:
“An election may be made to transfer a FIXED amount of the PA to a spouse or civil partner – the amount is SET at £1,250 for 2019/20”.
So in your example above spouse A can only transfer £1,250..
pateladam
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