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March 6, 2015
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Registration for Marriage Allowance has opened

Registration has now opened for the new Married Allowance tax break, which enables couples to save up to £212 a year.

The new tax relief, which comes into effect on 6 April 2015, will allow a spouse or civil partner who has an annual income of less than £10,600  to transfer up to £1,060 of their tax free allowance to their partner, increasing their tax free allowance to £11,660  for 2015/16.

It should be noted that where the spouse receiving the benefit has income in the excess of the higher threshold (£42,385), the relief will not be available.

Where either partner was born before 6 April 1935 this relief will not be available, however these couples can continue to claim the Married Couple’s Allowance instead.

Details on how to register can be found here: https://www.gov.uk/marriage-allowance

 

Contact us today to discuss your tax requirements.
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