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Question relating to tax allowance for UK pensioner?
Person due to retire this year on 65th birthday. Total Income for year with State Pension and small private pension £14,831.36 (won't be claiming Pension Credit as wife also has income). How much tax will be paid on this? Understand this year's tax allowance is £9,940 and tax will be deducted at 20% on any income above this up to £24.000. Question is does the married persons allowance which is normally claimed each year be added to the £9,940 or is £9,940 the total allowance that will be received. I think it is but not well up on tax matters so just making sure. Thanks!
3 Answers
- TavyLv 710 years agoFavorite Answer
The married persons allowance was dumped years ago. Everyone now is taxed as a single person. The allowance is £9490 a year.
UK
- lolitaLv 44 years ago
the only element transferable between you would be the marriage allowance in case you're entitled to it. That applies just to human beings born till now 05/04/1935. Any unused very own allowance is misplaced. As Fengirl2 exhibits, if husband has investments, he ought to flow sources to you, so which you will get activity tax-loose. would not prepare to shares, as dividend tax isn't refundable, even if low your income.
