Marriage allowance can you cash in?
3rd April 2020The marriage allowance allows you to transfer £1,250 of your unused personal allowance to your husband, wife or civil partner in a given tax year.
In order to qualify the one receiving the transfer must not be a higher rate tax payer and the lower earner must have income below their personal tax free allowance of £12,500.
This transfer can reduce your tax bill by up to £250 in a tax year.
You can backdate your claim 4 years therefore if you have not claimed then 5 April 2020 is the deadline for going back.
You can apply online at https://www.gov.uk/apply-marriage-allowance.
Disclaimer - All information in this post was correct at time of writing.
