1.8 million couples benefitting from Marriage Allowance

Rebecca Tomes
(IFA Magazine)

 

Following an update today from HMRC announcing that nearly 1.8 million married couples and those in civil partnerships are using Marriage Allowance, Julia Rosenbloom, tax partner at Smith & Williamson comments:

“With the easing of Covid-19 restrictions, some will be celebrating their wedding with family and friends in the coming weeks. After all the disruption of the last 15 months and potentially needing to postpone their ceremony several times over, it will be a relief for some that it is actually able to go ahead. Once they have enjoyed their big day and maybe also a honeymoon, it could pay financially for newly married couples to see if they are eligible for Marriage Allowance. The latest update from HMRC shows that nearly 1.8 million married couples and those in civil partnerships are using Marriage Allowance to reduce their income tax bill, but there will be many more who are still missing out. I’d urge people who have been married for many years to look carefully at whether changes in their personal circumstances mean they could also benefit from this tax relief. Changes to working arrangements, potentially as a result of Covid-19, or a decision to return to education mean they could be eligible.”

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