Married Couples Allowance


M

MikeS

Grateful for some clarification here. Should my wife get the full MCA for
all years including the future?

Husband, 70+. Income from pension, interest and isolated extras. Taxable
income in some years about 3-5% above allowances.
Wife employed and provides the most of the cash flow.

In 1998 an Election to Transfer MCA (in full) to wife was acknowledged by
IR. In the following years MCA was part of wife's tax code.
For year 2003/2004 the MCA appeared on my assessment calculation resulting
in a refund of overpaid tax. Box 16.8 had been checked (Transfer full MCA to
spouse) in all previous years.

I queried IR about this.
Reply: Allowances can only be transferred when your own income is entirely
covered by any allowances retained. As this hasn't (sic) been the case since
2000/2001, your MCA has been included in your calculations as it is required
by you.


MikeS

Something for the weekend Sir?

Pres. Bush is opening the Olympics at Athens.
Opens his speech with " Oooooh, Oooooh, Oooooh, Oooooh, Oooooh,
His aide whispers into the Pres' ear. "No no Sir. Those are the Olympic
rings. Your speach is underneath."
 
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