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| | | Transfer of personal allowances between spouses |
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| | To move the following Clause:— |
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| | | ‘After section 37 of the Income Tax Act 2007, insert— |
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| | | “37A | Transfer of personal allowances between spouses |
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| | | (1) | This section applies to an individual who is entitled to a personal |
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| | | allowance under sections 35 to 37 for a tax year if— |
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| | | (a) | the individual is a person whose spouse who is living with the |
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| | | individual for the whole or any part of the tax year, |
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| | | (b) | the individual is, for the whole or any part of the tax year, usually |
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| | | resident with at least one child who is under the age of 5 years at |
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| | | the end of the tax year, or such other age as is specified by order; |
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| | | (c) | the spouse meets the requirements of section 56 (residence, etc). |
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| | | (a) | the allowance exceeds the individual’s income; |
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| | | (b) | the individual makes an election; and |
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| | | (c) | the individual’s spouse makes a claim; |
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| | | | the individual’s spouse is entitled to an allowance for the tax year equal |
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| | | to the amount of the transferable allowance subject to a maximum |
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| | | amount, if any, specified by order. |
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| | | (3) | The individual’s transferable allowance is found by— |
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| | | (a) | taking any personal allowance to which the individual is entitled |
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| | | (b) | subtracting the amount of the individual’s income. |
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| | | (4) | For the purposes of this section “spouse” includes civil partners. |
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| | | (5) | For the purposes of this section an “order” means order made by statutory |
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| | | instrument a draft of which has been laid before and approved by |
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| | | resolution of the House of Commons. |
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| | | (6) | This section shall have effect for the tax year 2014-15 and subsequent |
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| | | 37B | Election for transfer of allowance under section 37A |
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| | | (1) | An election under section 37A— |
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| | | (a) | must be made not more than 4 years after the end of the tax year |
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| | | (b) | cannot be withdrawn; and |
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| | | (c) | cannot be made before 6 April 2015. |
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| | | (2) | If an individual makes an election for a tax year under section 37A the |
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| | | individual is treated as also giving notice under section 51(4) that section |
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| | | 51(1) (tax reductions for married couples: transfer of unused relief) is to |
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| | | apply for the tax year.”.’. |
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