In a recent
announcement, HMRC confirmed that nearly 1.8 million married couples and those in civil partnerships are claiming the Marriage Allowance.
The allowance enables married couples or those in civil partnerships to share their personal tax allowances if one partner earns an income under their
Personal Allowance threshold of £12,570 and the other is a basic rate taxpayer.
They can transfer 10% of their tax-free allowance to their partner, which is £1,260 in the 2021-22 tax year. It means couples can reduce the tax they pay in 2021/22 by up to £252. Couples can also backdate their claims for any of the four previous tax years, which could be worth up to £968. This means that if you claim for this tax year and backdate the maximum four years, you'll get up to £1,220.
If you are eligible, and still not making a claim, you can complete an application
online.
If you require more information or assistance with the above please
contact us.