NEWS

Marriage Allowance reminder

HMRC is reminding married couples and people in civil partnerships to sign up for Marriage Allowance for extra cash.

The Marriage Allowance allows married couples or people in civil partnerships, including those who have been together for years, to share their personal tax allowances.

Couples are eligible to do this if one partner earns below the Personal Allowance threshold of £12,570, and the other is a basic rate taxpayer.

Eligible couples can transfer 10% of their tax-free allowance to their partner, which is £1,260 in 2022/23. It means couples can reduce the tax they pay by up to £252 a year. They can apply any time and, if eligible, could backdate their claims for up to four previous tax years to receive a payment of up to £1,242.

The Marriage Allowance is free to apply for and couples can claim directly via HMRC’s online portal to ensure they receive 100% of the tax relief they are eligible for. 

Angela MacDonald, HMRC’s Deputy Chief Executive and Second Permanent Secretary, said: ‘We want to ensure people are receiving vital financial support at a time when they need it most. Married couples or those in a civil partnership could potentially receive tax relief worth up to £1,242, meaning extra cash in their pockets.’

 

09/08/2022