Katrina and Jayne both UK resident were married in May 2014. Although Jayne earns only £8 000 a year working part time they have never been able to claim the transferable tax allowance as Katrina has been earning £50 000 a year. Sadly Katrina passed away suddenly in early January 2018. Can the transferable tax allowance now be claimed?
Answer
The law is in the process of being changed to help people in situations such as that of Katrina (and her personal representatives) and Jayne.
Clause 6 of Finance Bill 2018 currently making its way through Parliament amends the transferable tax allowance rules in ITA 2007 Part 3 Chapter 3A. When these rules were originally introduced with effect from 6 April 2015 an election was not permitted where one or both...
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Katrina and Jayne both UK resident were married in May 2014. Although Jayne earns only £8 000 a year working part time they have never been able to claim the transferable tax allowance as Katrina has been earning £50 000 a year. Sadly Katrina passed away suddenly in early January 2018. Can the transferable tax allowance now be claimed?
Answer
The law is in the process of being changed to help people in situations such as that of Katrina (and her personal representatives) and Jayne.
Clause 6 of Finance Bill 2018 currently making its way through Parliament amends the transferable tax allowance rules in ITA 2007 Part 3 Chapter 3A. When these rules were originally introduced with effect from 6 April 2015 an election was not permitted where one or both...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
