Hundreds of thousands of workers could be missing out on a pay increase after the minimum wage rose by nearly 10 percent last week.
30.03.2023 - 14:53 / manchestereveningnews.co.uk
Money-saving expert Martin Lewis is urging married couples to check if they can apply for their Marriage Tax Allowance and saving some money in the process.
The scheme allows married couples to reduce their taxes by a substantial amount just by transferring some cash to the tax man. By transferring £1,260 of your Personal Allowance to your husband, wife, or civil partner, you can reduce their tax by up to £252 in the tax year.
Before the tax year ends, you can backdate your claim by up to four years. However, Mr Lewis has highlighted that not enough couples are taking advantage of this.
Read more: Five things to do before the end of the tax year, according to a money expert
Speaking on his podcast, Mr Lewis said: "This is urgent you can only claim back four tax years and if you do not do it by next week, the fifth of April, you lose it and you could lose big money." He added that 2.1 million eligible couples are not currently claiming their allowance.
He continued: "You can only claim back four tax years behind the current tax years which means that once we start the new tax year next week on the sixth of April, you lose the ability to claim back the 2018/19 tax year for a whole raft of different things.
"That's what you're losing and that's what you need to have in your need. Now, with the Marriage Tax Allowance, 2.1 million eligible customers are missing out as I said and to be eligible you need two things: in the couple, assuming you're married or civil partnership.
"If you are just co-habiting, if you are living together, even if you've been living together for 30 years and have 22 kids, you don't count, this was deliberate social engineering in the tax system by the government when they brought it in. So, to
Hundreds of thousands of workers could be missing out on a pay increase after the minimum wage rose by nearly 10 percent last week.
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it was announced he'd sadly passed away on 28 March. Paul, famed for hosting shows such as The Paul O’Grady Show, Blankety Blank and For The Love Of Dogs, "unexpectedly but peacefully" died on Tuesday, his partner Andre Portasio announced in a statement. Fans and fellow famous faces have flocked to social media to pay tribute to the late star, with the likes of Lorraine Kelly and Martin Lewis leading tributes.
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Martin Lewis has signed as a regular co-host on the ITV show after Piers Morgan infamously stormed off and subsequently quit. The award winner journalist and broadcaster has will kick off his new role with a tax year end special on Wednesday 29th March at 6am on ITV1 and ITVX. Martin will present alongside Susanna Reid on various Wednesdays this year after stepping into the role of co-host several times since Piers departed GMB.
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