MARRIAGE ALLOWANCE

Are you taking advantage of the MARRIAGE ALLOWANCE? 

This year, 2017/18 the transferable allowance increases to £1,150. This entitles you up to a £230 tax saving during the tax year.

HMRC are still allowing backdated claims which means if you didn't claim in the last two tax years you may be entitled to a £432 refund of tax.(£212 for 2015/2016 & £220 for 2016/2017)

To benefit as a couple, you (as the lower earner) must have an income of £11,500 or less.

You can get Marriage Allowance if all the following apply:

 

• you’re married or in a civil partnership
• you don’t earn anything or your income is £11,500 or less
• your partner’s income is between £11,501 and £45,000 (or £43,000 if you’re in Scotland)