Tax Allowances

Treasury written question – answered on 25th January 2010.

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Photo of Michael Fallon Michael Fallon Chair, Treasury Sub-Committee

To ask the Chancellor of the Exchequer if he will estimate the cost to the Exchequer of making the personal allowance transferable between members of couples individually subject to the basic rate of income tax who marry and have children after 1 April 2011 in each year from 2011-12 to 2015-16.

Photo of Stephen Timms Stephen Timms Parliamentary Under-Secretary (Department for Business, Innovation and Skills) (Digital Britain) (also HM Treasury), Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)

holding answer 18 January 2010

The cost to the Exchequer of making the personal allowance transferable between couples individually subject to the basic rate of income tax, will depend on whether one or both members of the couple are subject to the basic rate of income tax; and if one, whether the intended focus is for second member to be subject to a higher rate of income tax, or alternatively a zero rate of income tax. Any answer would be highly dependent on these factors.

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