All About The Marriage Allowance
SUE’S GUIDE
Are you missing out on a tax break worth £252 a year? Around two million couples lose out on free cash ever y year by failing to claim the marriage allowance according HM Revenue & Customs.
So what is it? It’s basically a tax break that allows couples, where one partner doesn’t pay tax, to give the other one a slice of their tax free allowance.
This then boosts the amount the tax paying partner can earn before paying income tax, which means an extra £252 a year in cash terms.
Here’s how to find out if you can make a claim…
◆ First up, you need to be married or in a civil partnership to claim, and one of you needs to be a non-taxpayer, which means earning under £12,570 a year, with the other paying the basic 20% tax rate.
◆ Ticked both boxes? Then you could be better off to the tune of £252 a year, by applying for the Marriage Allowance.
◆ It’s free and easy to apply online at WWW.GOV.UK/APPLY-MARRIAGE-ALLOWANCE but it must be the non-tax payer who applies.
◆ If you apply and get the allowance, you carry on getting it automatically ever y year. So if anything changes, say your income goes up, or your partner dies, you need to tell HMRC.
◆ Never claimed before? You can claim for this current tax year, which started on April 6, and for the last four years too.