HMRC has reminded married couples and people in civil partnerships to sign up for the Marriage Allowance to help reduce their tax bill.
The Allowance permits eligible couples to share their personal allowances if one partner earns an income under the personal allowance threshold of £12,570 and the other is a basic rate taxpayer.
Couples are able to transfer 10% of their tax-free allowance to their partner. This equates to £1,260 in the 2021/22 tax year.
Commenting on the matter, Angela MacDonald, HMRC’s Deputy Chief Executive, said: ‘Couples could be sitting on a tax relief worth up to £1,220 that could provide vital financial support at a time they need it most. To find out if you are eligible and how to apply search ‘Marriage Allowance’ on GOV.UK.
‘More than 2 million couples have applied for the tax relief since it was launched in 2015 but there could be thousands more who are eligible to claim.’
Check if you are eligible here.
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