Rugby’s Member of Parliament is calling on local couples to take advantage of the Marriage Allowance, which could save families up to £220 a year.
The Marriage Allowance is a transferable tax allowance for married couples and civil partners which recognises the commitment of marriage in the tax system.
The allowance allows qualifying couples individuals to transfer ten percent of their personal tax allowance to their spouse or civil partner. Marriage Allowance can be applied for on the HMRC website at: www.gov.uk/apply-marriage-allowance.
Speaking about the Marriage Allowance, Mark said:
“Making sure that taxes are fair is a key part of our commitment to help hard-working families, which is why I fully support the Marriage Allowance. This allowance can save couples over £200 a year, which will be a great benefit to many local families.”
Mark continued:
“Additionally, this year the government is allowing couples who were eligible in 2015-16 to backdate their claim, meaning that those couples could save up to £432 on their tax bill.”
Mark concluded:
“The Marriage Allowance is available to married couples and to those in a civil partnership. I am pleased that the government has sought to recognise the commitment couples make in marriage through the tax system and I would encourage eligible couples to apply.”
What is the marriage allowance?
Marriage Allowance lets you transfer £1,100 (10%) of your personal allowance to your husband, wife or civil partner if they earn more than you, so as a couple you can save up to £220 from your tax bill this year.
Who is eligible?
You can get the Marriage Allowance if all the following criteria apply:
- You are married or in a civil partnership
- You don’t earn anything or you don’t pay tax on your income (for most people an income of people £11,000)
- Your partner doesn’t pay tax at the higher or additional rate (for most people that’s an income of £43,000 or below)
- You and your partner were born after 6 April 1935. Couples born before 1935 can benefit from the separate Married Couples Allowance.
You can apply if you or your partner are currently receiving a pension.
If you were eligible for the Marriage Allowance in the 2015-16 tax year, you can backdate your claim to 6 April 2015 and save up to £432.
Marriage Allowance can be applied for on the HMRC website at: www.gov.uk/apply-marriage-allowance.