Marriage allowance lets you transfer £1,150 of your personal allowance to your husband/wife/civil partner.
In order to qualify you must:
- Be married / in a civil partnership
- One spouse/partner must earn less than £11,500
- Your partner’s income is between £11,501 and £45,000
This will reduce the overall tax bill by up to £230 every tax year.
“If you are eligible for marriage allowance on 2017/18 tax year you can back date your claim to April 6th, 2017 and reduce the tax bill even further,” said Peter Way-Rider, tax manager at Ellis & Co.
For further information about marriage allowance or any other tax matter, contact Peter on 01244 343504.