Marriage Allowance 2015
12 April 2015, Advocates, Barristers, Charities, Companies, Employer, Musicians, Sole Traders
Smarter accounting
12 April 2015, Advocates, Barristers, Charities, Companies, Employer, Musicians, Sole Traders
The new tax relief, which came into effect on 6 April 2015, allows a spouse or civil partner who has an annual income of less than £10,600 to transfer up to 10% of it (£1,060) to their partner as long as they are not a higher rate taxpayer. The Marriage Allowance is not to be confused with the more generous Married Couple’s Allowance, which is for the dwindling portion of the population where one of the couple was born before 6 April 1935.
To register for the Marriage Allowance you need to satisfy the following three criteria:
If you do register for the new Marriage Allowance you will receive a new tax code from HMRC with an M or N at the end.
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