03 July
By Chris Gumbley
Categories: Personal/Government/HMRC/Taxation

Tax break for couples – are you missing out?

Tax break for couples – are you missing out?

HMRC have recently revealed that over a million married and civil partner couples are eligible to apply for a tax relief but are currently missing out.

If you are married or are in civil partnership you may be entitled to claim a tax relief called the Marriage Allowance. This tax break allows couples to transfer a proportion of their personal allowance between them and could be worth up to £238 per year with backdated payments also potentially available.

Although the Marriage Allowance has been around for some time the take up has appeared to be low with concerned raised over how easy it was to make a claim.

You could benefit from this tax saving opportunity if all of the following apply:

  • You are married or in a civil partnership
  • One partner doesn’t earn anything or has an income of £11,850 or less and
  • The other partner’s income is between £11,851 and £46,350

The experienced tax team at Naylor Wintersgill are the experts when it comes to helping you hold on to more of your hard earned cash. If you think you may be eligible to claim this valuable relief, contact us today for a no obligation chat to see how we can help.