Can I transfer my free taxable allowance (£12,500) to my husband while I’m on maternity leave? I’m due just to get SMP.
No. You can transfer the Marriage Allowance. The Marriage Allowance allows an individual to transfer 10% of their personal allowance (£12,500 in 2019/20 so the amount transferred is £1,250) to their spouse or civil partner. 20% of this allowance is then given as a reduction in the recipient’s tax bill. This can result in anything up to a £250 tax saving for the couple.
Other permutations may apply if you are self employed. For instance, you could possibly have a partnership with your husband. Employment really reduces the options.