Couples living together urged to check if they could extra cash boost worth up to £1,256
15.02.2024 - 12:44
/ manchestereveningnews.co.uk
Couples living together are being encouraged to check if they could get an annual income boost of more than £250. The Marriage Allowance, which is especially beneficial for married couples where one partner doesn't pay tax, allows the non-tax paying spouse to transfer 10% of their yearly tax-free allowance to their partner who pays basic-rate tax.
This could be worth £252 over the 2023/24 financial year. However, you can claim back up to four tax years if you were eligible during that time, potentially earning you a whopping £1,256.
HM Revenue and Customs (HMRC) is urging married couples or those in a civil partnership to take just half a minute to see if they can claim the Marriage Allowance, the Daily Record reports.
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The quickest and easiest way to check if you're eligible for this tax boost is by using the online Marriage Allowance calculator on GOV.UK. This is available for couples living in Scotland, England, Wales, and Northern Ireland.
Currently, over 2.1 million couples benefit from the Marriage Allowance but thousands more might be missing out simply because they don't know they're eligible. This is particularly true for couples where one partner has retired, stopped working to care for someone, or can't work due to a long-term health condition.
Couples may not know they could claim the Marriage Allowance if one partner works part-time or earns less, while the other earns less than their personal allowance of £12,570. This allowance saves couples money by allowing the lower earner to reduce the tax amount their partner pays.
Generally, most people have a Personal Allowance of £12,570 - this is the money they don't need to pay tax on. The