Married? Are you missing out on a tax-break?

Married? Are you missing out on a tax-break?Are you married or in a civil partnership? You could be entitled to a £432 tax break thanks to the Marriage Allowance. HMRC estimates that around 4.2 million couples are eligible to reduce their tax payments thanks to this allowance, which was introduced last year. However, only a million people have claimed it so far. Are you one of the three million people missing out? Are you eligible to claim? Marriage allowance was launched on the 6th April 2016. It is aimed at couples where one partner ...

Married couples lose out after failing to claim tax break

feet of bride and groom, wedding shoes (soft focus).New figures show that millions of people are paying too much tax, because they are failing to claim the married couples allowance. HMRC (HM Revenue & Customs) has revealed that only one million married couples have claimed the new allowance, out of the 4.2 million who are eligible. The allowance was introduced in April 2015 and is worth £220 in the current tax-year. How does it work? The system works by allowing either a husband, wife, or civil partner to transfer part of their unused Personal ...