Have you claimed the transferrable marriage allowance

Don’t miss out on £220!

HMRC has put out a reminder about a tax break that three quarters of eligible recipient haven’t claimed yet.

Claim your £220 transferrable marriage allowance

The transferable marriage allowance came into action back in April 2015.  The allowance allows couples (who are married or in a civil partnership), where one person pays no tax because their income is less than the personal allowance of £11,000, to transfer £1,100 of personal allowance to the tax paying partner.

The tax break, which amounts to a benefit of £220, applies in all sorts of situations; where one person works part-time, has taken early retirement or is simply taking a career break for instance.

Even better HMRC will allow couples haven’t claimed the allowance to backdate their claim to the previous tax year, and receive a payment of up to £432.

You can apply today for the transferrable marriage allowance at the HMRC with just your National Insurance numbers and one of a range of acceptable forms of ID.

If you have any questions about the tax allowance or its impact on your tax affairs talk to Lewis Smith & Co. today.

Call 01384 235549 or email info@lewissmith.com to arrange a discussion with one of our experts.


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