From April 6th 2015 married couples will be allowed to transfer £1,060 of unused 2015/16 personal allowance to their spouse, provided they are both within the basic rate band. In order to apply for this transfer of personal allowance you must be:
This transfer of personal allowance will be in place until one of you cancels the Marriage Allowance, or your circumstances chance (death/divorce).
The Marriage Allowance is paid by changing the tax codes of employees, which can take up to 2 months, or on annual self-assessment tax return for self-employed tax payers.
Register your interest online
You can apply online to register your interest in the allowance if you think you are eligible. You will receive an email telling you when you’ll be able to claim the allowance, and this will be back dated to April 6th 2015.
It is expected that this is the start of further changes, providing more support and allowances for those couples on lower incomes.
For tax planning advice call us on 01273 882200 .
All details above were correct at the time of publishing - for more up to date information please
get in touch
It’s always nice to reward your employees, especially those who may have worked for your business for a long time. Find out how you can do this and still reap the tax benefits.
If you want to grow your exports then the government want to help you on your way with Finance, Insurance and opportunities to meet potential customers. Yippee!
There’s a hidden gap in skills and knowledge between those of us who are qualified Accountants, and those who refer to themselves as Accountants. Every day we make an investment in your business to ensure you receive the quality of advice you need to protect your business.
It’s January and its ‘National Pay Your Self-Assessment
Your tax return should be safely in the HMRC net now but if you didn’t file before 12th December you will not receive a statement and payslip in the post. In any case, it’s best to brace yourself for making the payment as the statements are drip feeding very slowly through the postal system as I write.