New marriage allowance 2015

  • by Carole Jordan
  • 27 Apr, 2015
Couple getting married and sharing their personal allowance via new marriage allowance
Different from the   Married Couples Allowance ,   this new Marriage Allowance helps those earning less than their personal tax free allowance, enabling them to share it with their spouse or civil partner.

Marriage allowance criteria

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:

  • married or in a civil partnership
  • your annual income is £10,600 or less, plus up to £5,000 of tax-free savings interest
  • your partner’s annual income is between £10,601 and £42,385
  • you were born on or after 6th April 1935

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 .

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