News
Marriage allowance comes a step closer
06 March 2015
Married couples and civil partners can now register to receive a new tax break.
The government opened online registration for the marriage allowance, which will help to save couples up to £212 a year, on 20 February.
It says that from 6 April 2015, more than four million married couples and 15,000 civil partnerships will be eligible for the tax break.
It will apply to couples where one partner does not pay income tax, either because they are not earning at all or earn below the basic rate threshold of £10,600 in the 2015-16 tax year.
The marriage allowance will allow them to transfer up to £1,060 of their personal tax-free allowance to a spouse or civil partner who pays no more than the basic rate of income tax.
From April, HMRC will contact those who have registered for the allowance. People can register at any point in the tax year and receive the full benefit of the allowance.
Case Studies
-
A shared passion for architecture and a head for numbers
-
Smiles all round for dental practice
-
Customer care is top of the list for packaging business
-
Taxing demands with old school charm
-
Cut above the rest in personal management style
-
A modern approach required for music moguls
-
Sometimes a business does exactly as it says on the tin
-
Child's play with proactive accounts management
-
A taste for growth, a thirst for knowledge