Spread The Love With Marriage Allowance For Valentine's Day

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Spread The Love With Marriage Allowance For Valentine's DayCelebrate your love this year by claiming Marriage Allowance and you could save up to £252 a year!

Spread The Love With Marriage Allowance For Valentine's Day
Spread The Love With Marriage Allowance For Valentine's Day

PERSONAL TAX

This Valentine’s Day, why not give your beloved the gift of Marriage Allowance and reap the rewards of up to £252 in potential tax savings each year! There's no better way to show your love than to help them keep more of their income.

Over 2 million couples are already benefiting from this romantic allowance, but HMRC estimates that thousands more are missing out. So, don’t let your love fizzle out - if one partner has retired, given up work to look after someone, or has a long-term health condition, then you two could be a match made in tax heaven.

One half of a married couple or civil partnership earning less than the personal tax-free allowance (currently £12,570) can transfer up to £1,260 to the higher earning half of the relationship. The only caveat is that the higher earning half cannot be a 'higher-rate' taxpayer - this means their gross income should be below £50,270.

However, what can make this quite a lucrative Valentine's day present for some is that claims can be 'backdated' up to April 2018.

Backdating the additional 4 years means the £252 a year could turn into a tax saving of up to £1,242.

Eligible people can apply online at GOV.UK at no cost and, after a successful claim, their partner will see a tax saving.

Below is an example of the maximum tax savings per tax year going back 4 years:

Tax Year Max Tax Saving
2022/23 £252
2021/22 £252
2020/21 £250
2019/20 £250
2018/19 £238
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