Marriage Allowance Tax Break

Latest HMRC statistics have shown that since the marriage allowance was introduced nearly two years ago, only one in four couples have signed up for the tax break.

HMRC is urging couples to give their finances a boost and have pointed out that since the start of the new tax year in April, couples can backdate their allowance and can increase their payment of up to £432.

Couples who pay tax can apply for the marriage allowance at any time during the tax year and still receive their full entitlement and have four years to claim their backdate allowance.

Jane Ellison, financial secretary to the Treasury, said: ‘For the more than four million eligible married and civil partner couples, the marriage allowance could be a welcome financial boost. What better time than the new year to claim?’

For any further details or advice on tax matters contact us today on 01772 788200