UK Wedding News
09/01/2017
It is understood millions of couples in the UK are missing out on a free tax break, worth up to £220 a year. According to HM Revenue & Customs, a number of eligible couples are missing out on a marriage allowance.
Since April 2015, couples – in which one person pays no tax because their income is less than the personal allowance (this currently stands at £11,000), have been able to transfer £1,100 of that allowance to their tax-paying partner.
The allowance is available to couples who are married or in a civil partnership, but HMRC has said it has only been taken up by 1.3 million of the 4.2 million people it calculates as eligible.
People who have taken early retirement, a career break, extended parenting leave, or who work part-time can transfer the allowance – as long as their partner is a basic rate tax payer earning between £11,000 and £43,000 a year.
HMRC has said it now hopes to increase the uptake of the tax break, and will let couples backdate their claim to the previous tax year, and receive a payment of up to £432.
(JP/MH)
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'Millions' Of Couples Missing Out On Tax Break
It is understood millions of couples in the UK are missing out on a free tax break, worth up to £220 a year. According to HM Revenue & Customs, a number of eligible couples are missing out on a marriage allowance.
Since April 2015, couples – in which one person pays no tax because their income is less than the personal allowance (this currently stands at £11,000), have been able to transfer £1,100 of that allowance to their tax-paying partner.
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The allowance is available to couples who are married or in a civil partnership, but HMRC has said it has only been taken up by 1.3 million of the 4.2 million people it calculates as eligible.
People who have taken early retirement, a career break, extended parenting leave, or who work part-time can transfer the allowance – as long as their partner is a basic rate tax payer earning between £11,000 and £43,000 a year.
HMRC has said it now hopes to increase the uptake of the tax break, and will let couples backdate their claim to the previous tax year, and receive a payment of up to £432.
(JP/MH)
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LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
Lin-Manuel Miranda Homeschooling Kids
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