The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
ITA 2007, s 55B
ITA 2007, s 55B(6)
ITA 2007, ss 55A, 55B(1), (3)
Who benefits from the transferable tax allowance?
The transferable tax allowance is of benefit where one of the couple is not able to utilise the full personal allowance or the taxable income after the deduction of the personal allowance would otherwise be fully taxed at 0% under the starting rate for savings, savings nil rate or dividend nil rate.
ITA 2007, s 55B(7)
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