A Straightforward Guide to Individual and Family Finances by Adrian Fellows

Author:Adrian Fellows
Language: eng
Format: epub
Publisher: Straightforward Publishing

To claim Married Couple’s Allowance, you must be living together as a married couple or as civil partners and at least one of you must have been born before 6 April 1935. The rules about Married Couple’s Allowance depend on the date you married or became civil partners, as well as the age of the older partner: If you married before 5 December 2005, the husband gets the Married Couple’s Allowance and the amount depends on the husband’s income and the age of the older partner.

If you married or became civil partners on or after 5 December 2005, the partner with the higher income claims the Married Couple’s Allowance and the amount depends on the age of the older partner and the income of the partner with the higher income.

If you married before 5 December 2005 you can choose to have the rules which came in on 5 December 2005 applied to you, so that the partner with the higher income gets the Married Couple’s Allowance. Contact HMRC to ask them about making the change.

You can apply to HMRC to share the minimum Married Couple’s Allowance between you or, if you both agree, to transfer the minimum Married Couple’s Allowance to your spouse or civil partner.

You will be entitled to a Personal Allowance as well as the Married Couple’s Allowance. You may also be entitled to a Blind Person’s Allowance. More information about the Married Couple’s Allowance is available on the GOV.UK website and on the Low Incomes Tax Reform Group’s website.

Married Couple’s Allowance amounts

This table gives details of the maximum and minimum Married Couple’s Allowance for each year, together with the income limit. You get the maximum allowance if your income does not exceed the income limit. If your income is more than the limit, the allowance is reduced, but it won’t go below the minimum amount.

Married Couple’s Allowance is an amount that is taken off your tax bill, so you can only claim it if you pay tax. Your tax bill is reduced by 10% of the Married Couple’s Allowance that you are entitled to. Married Couple’s Allowance can’t take your tax bill below £0. If it takes your tax bill to £0, any excess is not repayable. For the tax year 2020/2021 the Married Couples Allowance is:

Maximum amount

£9075

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.