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UK Wedding News

09/01/2017

'Millions' Of Couples Missing Out On Tax Break

It is understood millions of couples in the UK are missing out on a free tax break, worth up to £220 a year. According to HM Revenue & Customs, a number of eligible couples are missing out on a marriage allowance.

Since April 2015, couples – in which one person pays no tax because their income is less than the personal allowance (this currently stands at £11,000), have been able to transfer £1,100 of that allowance to their tax-paying partner.

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The allowance is available to couples who are married or in a civil partnership, but HMRC has said it has only been taken up by 1.3 million of the 4.2 million people it calculates as eligible.

People who have taken early retirement, a career break, extended parenting leave, or who work part-time can transfer the allowance – as long as their partner is a basic rate tax payer earning between £11,000 and £43,000 a year.

HMRC has said it now hopes to increase the uptake of the tax break, and will let couples backdate their claim to the previous tax year, and receive a payment of up to £432.

(JP/MH)

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"It is understood millions of couples in the UK are missing out on a free tax break, worth up to £220 a year."