Couples should explore tax breaks
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 visit www.gov.uk/marriageallowance