personal allowance

(redirected from Personal Allowances)
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Translations

personal allowance

n (Tax) → quota non imponibile
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References in periodicals archive ?
"The entitlement to personal allowances for UK citizens who are non-resident in the UK actually arises specifically from their status as EU / EEA nationals.
It is a very much overlooked saving that involves transferring unused personal allowances, the amount you can earn tax-free each tax year, between spouses.
If you have a spouse or civil partner, try, if possible, to arrange your income and investments between you to make the best use of the 0% savings tax band, the 0% dividend tax band and the Personal Savings Allowance, and both of your personal allowances and basic-rate tax bands.
Byline: Joe Michna, manager of Citizens Advice Hartlepool, talks about Income Tax personal allowances
"Married couples, for example, should make sure they claim the marriage allowance if eligible, and they should also plan to be able to use both personal allowances in retirement, which allows them to earn PS23,000 as a couple without paying tax".
"A fair solution would be to allow couples to combine their Personal Allowances - making it PS21,200 at current levels - and tax them jointly only on any additional income above this figure.
Given that both husband and wife each have their own Personal Allowance and rate bands, and as transfers of assets between them are free of all taxes, it is important for them to review the ownership of income producing assets to see if transfers can be made from one to the other to ensure that Personal Allowances are not wasted and to see if they can maximise the benefit of the nil-savings rate and Allowance or at least to ensure the basic rate tax band is utilised as far as possible whilst at the same time mitigating the extent of any higher rate tax liabilities on the transferring spouse.
Trefor said:"The big concession for farmers is that they can average out their earnings over five years - this will help cash flow and ensure personal allowances are fully used in poor years.
To begin with he gets personal allowances, tax relief for his family and allowances for mortgage interest and insurance premiums.
We also continue to support hard working families through a further increase in personal allowances to Au10,500.
They will argue it's better than dragging more higher earners into the 40p band to pay for Coalition rises in personal allowances. The 10p starting rate was introduced by Gordon Brown in 1999.
* SIR - Many of your readers, particularly those over or approaching 65, will be disappointed to learn that Labour's amendment to restore the age-related personal allowances was defeated in the House of Commons on April 18.

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