article_snippet: Married couples have gained from an increase in the transferrable tax allowance.
article_snippet: Chancellor announced that the amount a spouse can transfer to Married couples partner is being raised by £50 – in line with the rise in the personal income tax allowance.
article_snippet: The tax break was originally planned that married couples in which one person earned under the £10,500 income tax threshold would be allowed to transfer £1,050 of their allowance to their spouse.
article_snippet: Now that the personal allowance has been raised, the Chancellor’s move means that taxpayers will be able to transfer £1,100 of taxpayers allowance to taxpayers spouse – an increase of £50.
article_snippet: In George Osborne speech, George Osborne said: ‘In this Budget the rate of the new transferable tax allowance for married couples will rise to £1,100.
article_snippet: It only applies to couples in which there is one basic rate taxpayer, with the other earning less than the personal allowance.