Marriage Allowance: Find out if you could be better off in just 30 seconds | Newry Ireland News | Latest Newry News, Newry Sport and Newry Business for Newry City

Marriage Allowance: Find out if you could be better off in just 30 seconds | Newry Ireland News

Couples who are married or in a civil partnership are being urged by HM Revenue and Customs (HMRC) to spend just 30 seconds to see if they can claim Marriage Allowance and boost their finances by up to £252 a year.

 

Marriage Allowance- find out if you could be better off in just 30 seconds | Newry Ireland News - news in newry today

 

By using HMRC’s online Marriage Allowance calculator during Talk Money Week, couples can find out instantly if they are eligible.

Couples who may be unaware that they could claim include those where one partner is working and the other has income less than their personal allowance of £12,570, including those who:

    – have retired

    – have given up work to care for children or elderly relatives

    – are unable to work because of long-term health conditions

    – have a part-time job

    – have a low-paid job

 


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It is quick and easy to claim Marriage Allowance for free via GOV.UK.

Applying directly on GOV.UK means couples will receive 100% of the tax relief due.

Angela MacDonald, HMRC’s Deputy Chief Executive and Second Permanent Secretary, says, “The Marriage Allowance calculator helps couples to find out in seconds how much they stand to benefit. Check today and claim right away.

“It’s a quick and easy process that’s worth up to £252 a year.

“Search ‘Marriage Allowance’ on GOV.UK for more information.”

 


Tall Paul Marketing - NI blog content writer

 


 

With around 68 per cent of people in their sixties married or in Civil Partnerships, many people in this age group may not realise they can claim Marriage Allowance if they have retired and their partner is still working.

UK Men’s Sheds, a charity which brings together retired men to meet at community workshops, is flagging this with their members.

Charlie Bethel, Chief Officer UK Men’s Sheds, says, “If you have retired and your partner is still working, you may not realise that you could apply for Marriage Allowance. As a charity that brings retired men together, we are urging our members throughout the UK to invest the 30 seconds of time it takes to find out if they can claim.”

Marriage Allowance saves couples money by allowing the lower or non-earner to reduce the amount of tax their partner pays.

Most people have a Personal Allowance, normally £12,570 – the amount of income they do not have to pay tax on.

Marriage Allowance lets the lower earner transfer £1,260 of their Personal Allowance to their husband, wife or civil partner.

This can reduce their tax by up to £252 annually.

If eligible, couples can also backdate their claim for the previous four tax years and receive a lump-sum payment worth more than £1,000.

To benefit from the tax relief, one partner must have income less than £12,570, and the higher earning partner’s income must be between £12,571 and £50,270.

 


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Posted by on Dec 4 2023. Filed under Community. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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