Make this Valentine’s Day extra special with a break; The Marriage Allowance tax break!

It’s the month of love, and whether wedding bells are on the horizon for you or you’re already married / in a civil partnership, it might just be time to say ‘I do’ to The Marriage Allowance as well.

  • February 11th 2020

We’re always trying to help ensure our clients make the most of tax reliefs however there are over 2 million couples in the UK still missing out on this tax break, so read on to find out how you can claim back up to £1,150* just for being married!

The Marriage Allowance was introduced in April 2015, for people born on or after 6 April 1935, ensuring low earners could benefit. It lets a spouse or civil partner, who earns less than their £12,500 personal tax allowance (therefore a non-taxpayer), to transfer £250 from the current tax year, to their partner – only if the partner is a basic rate (20%) taxpayer, earning less than £50,000 as this does not apply to higher rate tax payers. The marriage allowance could be worth up to £250 a year for eligible couples, which is a nice boost to finances we’re sure you don’t want to miss out on.

If you were born before 6 April 1935, then a different tax break Married Couples Allowance could be worth looking into.

*Backdate your claim

If you’re eligible for The Marriage Allowance, you can backdate your claim for up to 4 year provided you’ve met the criteria for this time, meaning you could claim up to a total of £1,150 broken down by each year tax year as follows:

  • 2015/16 - £212
  • 2016/17 - £220
  • 2017/18 - £230
  • 2018/19 - £238
  • 2019/20 - £250

Three’s a crowd

Be aware of companies suggesting they can help you claim the marriage allowance as they will take a percentage of your allowance. We advise to apply direct via the Gov.uk website, see below – it’s really simple to do!

It takes just 4 minutes

If you are the non-taxpayer in the relationship, you can apply anytime throughout the year and will take just a few minutes of your time by clicking here: https://www.gov.uk/marriage-allowance/how-to-apply

So, whilst love is in the air this February, why not take a few minutes to apply for The Marriage Allowance if you haven’t done so already, and if you have any queries, don’t hesitate to ask a member of our lovely tax team in South Manchester on 0161 905 1801 or in Warrington on 01925 830 830, or you can email us at mail@lwaltd.com. Happy Valentine’s Day!