A recent press report showed that TWO MILLION married couples and civil partners have not taken advantage of a £662 marriage tax break. This means that people are missing out on total of £1.3billion.
When the ‘marriage allowance’ was introduced in 2015, the Government was criticised for not publicising this scheme properly. Its aim was to help people where one partner earns less than the other by allowing the lower earner to transfer up £1,150 of any unused £11,500 tax-free personal allowance to the higher earner.
At that time, it was estimated that 4.2 million couples would benefit from the tax break. However, a huge amount has been left unclaimed, meaning that some families may be struggling unnecessarily.
If you think you may be one of the couples standing to gain from the marriage allowance, we urge you to check whether you are eligible. You can start your claim by clicking here. Claims can be backdated, meaning you may be owed a lump sum covering the past two years, as well as a possible reduction in your ongoing tax bill – together, worth £662.