HMRC sends Valentine’s message to couples
HMRC is urging married couples/civil partners to check whether they are entitled to claim the marriage allowance. What is it, are you eligible and how do you claim it?
HMRC has a special message to couples - “give the gift of the marriage allowance this Valentine’s Day”. The marriage allowance is not as generous as it sounds. It isn’t actually an additional allowance, but merely the transfer of £1,260 of unused personal allowance from one partner to the other. It isn’t available to all married couples. In order to benefit, one spouse must have income below the personal allowance so there is an unused amount to transfer to their partner. The other partner can’t benefit if they are a higher or additional rate taxpayer, which generally means they have income in excess of £50,270 (or just £43,662 for Scottish taxpayers), the allowance can’t be claimed.
Despite this, it's well worth checking if you are eligible, especially as the claim can be backdated by up to four years, which could mean a rebate of over £1,000. Use HMRC’s tool to check if you can make a claim.
Related Topics
-
HMRC writes to non-domiciled taxpayers following rule changes
HMRC has begun issuing “one-to-many” letters to individuals affected by recent changes to the tax rules for non-UK domiciled taxpayers. The letters prompt recipients to review their tax position under the new regime. What does this mean if you receive one?
-
Can officers ignore minor input tax errors?
If your business has claimed input tax on an invoice where the supplier has charged VAT incorrectly, HMRC can disallow your claim by issuing an assessment. Can the officer waive that power to achieve a common sense outcome?
-
Practical guide: Tax-efficient will planning with residential property
An individual has a significant property portfolio which provides them with their sole source of income. They want to gift shares in some property to their daughter but retain the income. Can they do this without triggering the reservation of benefit rules?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.