Many couples are still missing out on the Marriage Allowance and potential to save £662 in tax.
If you are married or in a civil partnership then you may be entitled to the allowance.
The benefit lets the lower earner transfer £1,150 of their personal allowance to their husband, wife or civil partner which will reduce their tax by £230 in the 2017/18 tax year.
To be entitled to the allowance, the lower earner must have an income of £11,500 or less and their partner’s income is between £11,501 and £45,000.
The claim can be backdated to include any tax year since 5 April 2015 therefore saving £662 in total.
The Marriage Allowance is claimed by the lower earner applying to HMRC to transfer their allowance.
If you have previously applied for the allowance then you will continue to get in the following tax year.
The Marriage Allowance can be cancelled by contacting HMRC if your circumstances change.
Article written by Darren Edwards