Couples should ex­plore tax breaks

Runcorn & Widnes Weekly News - - In Business - BY JOHN MCDOUGALL john.mcdougall@trin­i­tymir­ @JMacD1988

COUPLES across Halton are be­ing en­cour­aged to see if they are el­i­gi­ble for a free tax break po­ten­tially worth hun­dreds of pounds.

HM Rev­enue And Cus­toms (HMRC) has an­nounced that 373,902 couples in the North West can boost their fi­nances through the Mar­riage Al­lowance.

It was in­tro­duced in April 2015 and about 4.2m mar­ried and civil part­ner couples across the coun­try are el­i­gi­ble for the free tax break worth up to £220 per year.

The pay­ment can also be back­dated to be boosted up to £432.

HMRC’s di­rec­tor gen­eral for per­sonal tax Ruth Owen said: “An ex­tra £432 is a re­ally help­ful way to start 2017, es­pe­cially af­ter Christ­mas.

“If you want to get your fi­nances in or­der this year, it only takes a few min­utes to check if you can get the Mar­riage Al­lowance tax break.”

Ap­ply­ing for Mar­riage Al­lowance can be done with the on­line form and res­i­dents can ap­ply at any stage in the tax year and still re­ceive the full entitlement.

Fi­nan­cial sec­re­tary to the Trea­sury Jane El­li­son added: “For the more than four mil­lion el­i­gi­ble mar­ried and civil ● part­ner couples, the Mar­riage Al­lowance could be a wel­come fi­nan­cial boost.

“What bet­ter time than the new year to claim?”

Ev­ery­one has a tax-free per­sonal al­lowance of £11,000 and no tax is due on in­come up to this amount.

The Mar­riage Al­lowance al­lows a spouse or civil part­ner who earns less than their per­sonal al­lowance to trans­fer £1,100 of it to their part­ner – as long as their part­ner doesn’t pay more than the ba­sic rate of in­come tax.

For more in­for­ma­tion visit­riageal­lowance

Fi­nan­cial sec­re­tary to the Trea­sury Jane El­li­son

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