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Transferrable amount of PA

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Transferrable amount of PA

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • May 4, 2020 at 1:32 pm #569922
    pateladam
    Member
    • Topics: 17
    • Replies: 9
    • ☆

    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

    May 5, 2020 at 10:17 am #570009
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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..

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