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Transferable personal allowances

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19 March 2014
As promised in the Autumn Statement, from tax year 2015/16 it will be possible for couples who are married or in a civil partnership to transfer up to £1,050 of their personal allowance between them, provided that neither of them pay tax at the higher rate.  This will be most useful where one of the couple does not have sufficient income to use their personal allowance, or they have investment income that is less than the £5,000 savings rate, as announced.