Marriage Tax Allowance - Columb & Gosling Accountants in Telford

Marriage Tax Allowance

February 16, 2016
Posted in: Tax

In April 2015, a marriage tax allowance was introduced.

So, if you are:

a) Married or have a civil partnership
b) Either you or your partner have an income of £10,600 or less (this is the personal allowance and will move each year)
c) Your spouse has income between £10,601 and £42,385 (ie a basic rate tax payer)

Then you may benefit from the marriage tax allowance. It allows the lower earner or non tax payer to transfer £1,060 of the personal tax allowance to their husband, wife or civil partner.

This will reduce their tax by up to £212.00 in the tax year.

The lower earner can register online here