Archive for March, 2015

TRANSFER OF PERSONAL ALLOWANCES BETWEEN SPOUSES AND CIVIL PARTNERS

In his 2013 Autumn Statement, the Chancellor announced that from the 2015/16 tax year, a Marriage Allowance would be introduced, whereby a spouse or civil partner would be able to transfer up to £1,000 of unused personal allowance to their spouse or civil partner.  The effect of this would be to reduce the receiving spouse […]

The 2015 Budget – Headlines and Summary

With the general election just over seven weeks away, the Chancellor sought to be the bearer of good tidings to businesses and individuals alike. The UK’s Gross Domestic Product grew by 2.6% in 2014. Although this fell short of the 3.0% growth which had been previously predicted, the Chancellor claimed that the UK economy had […]