Husband, wife, civil partners and children

Walter Sinclair and Barry Lipkin

Chapter Chapter 6 in St. James’s Place Wealth Management Tax Guide 2012–2013, 2012, pp 33-40 from Palgrave Macmillan

Abstract: Abstract You and your spouse or civil partner are each taxed separately on all of your income and capital gains. You each have a single person’s relief and income tax rates (5.0.1) and a full capital gains tax annual exemption of £10,600 for 2012–13 (20.5). Up to 5 April 2000, married couple’s allowance (3.2.1) amounting to £1,970 for 1999–2000 was available for those under 65, but an income-tested higher married couple’s allowance was available to those entitled to age allowance (3.2.7). The rate of relief became 10 per cent for 1999–2000. From 6 April 2000, the relief was generally withdrawn, but has remained available at the higher rate (3.2.1) where at least one party to the marriage was born before 6 April 1935.

Keywords: Capital Gain; Investment Income; Civil Partnership; Civil Partner; Separate Taxation (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-29080-9_6

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DOI: 10.1057/9781137290809_6

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