personal allowance

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personal allowance

n (Tax) → quota non imponibile
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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 important for them to review the ownership of such assets to see if transfers can be made from one to the other to ensure Personal Allowances are not wasted and if they can maximise the benefit of the nil tax rate on savings income, 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.
However, as a long-term member of the Liberal Democrats I have to congratulate the party for pushing for increased personal allowances and minimum wage rates.
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.
Make sure that you use your full personal allowance, especially if, as a company director, your income is ordinarily paid in dividends, and remember that married couples and civil partners can transfer income-pro ducing assets outright to their spouse, to make maximum use of both personal allowances and related lower-rate tax bands.
To begin with he gets personal allowances, tax relief for his family and allowances for mortgage interest and insurance premiums.
Ms King had overall responsibility for the home which included managing financial arrangements and personal allowances for residents.
al 20 cht Raising personal allowances from PS6,475 in 2010/11 to PS10,000 has cost over PS10 billion, but it has done nothing to help the four million lowest paid workers, said the TUC.
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.
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.
He said other changes, such as raising personal allowances for most basicrate taxpayers, would offset the cuts.
Maximise personal allowances Couples should ensure that any savings and investments are held in such a way that they maximise both of their tax free Personal Allowances and their basic rate tax bands.

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