Marriage Allowance – Many are missing out

marriage allowance tax

 

Recent statistics from the Office for Budget Responsibility reveal that take up of the government’s flagship Marriage Allowance, have been as low as one in ten

The vast majority of eligible couples have not applied for the allowance and are therefore missing out on the tax savings which in most cases are above £200 a year.

Low take up has been attributed to a lack of awareness and perhaps a reluctance to engage with HMRC. However, it’s not too late to lodge a claim and go back to 6 April 2015.
To be eligible couples must :

  • Be married or in a civil partnership
  • Have one person with income below the tax threshold

(£10,600 for 2015/16, £11,000 for 2016/17)

  • With the other person being a basic rate taxpayer

Applications for the allowance can be submitted online via HMRC’s website, link below, or claimed via Self Assessment.

https://www.gov.uk/apply-marriage-allowance
If you would more information, please contact James May or fill out our contact form below: