Transferable tax allowances for married couples and civil partners

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expressman33
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Transferable tax allowances for married couples and civil partners

Post by expressman33 » Wed Mar 18, 2015 2:14 pm

http://www.moneysavingexpert.com/news/f ... en-spouses
From 6 April, more than four million married couples and 15,000 civil partners who earn less than the £10,600 income tax personal allowance for 2015/16 will be able to transfer £1,060 of their allowance to their spouse, so long as the recipient doesn't pay higher rate (40%) or additional rate (45%) tax.
just announced in 2015 budget that you will be able to transfer £1,100 for 2016/17
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Re: Transferable tax allowances for married couples and civil partners

Post by expressman33 » Wed Jul 08, 2015 11:08 pm

Just arranged this for Raich as she will soon be on SMP .
HMRC Logo HM Revenue & Customs


Thanks for applying for the new Marriage Allowance. We’ve received your application.

We’ll reduce your personal allowance by £1060 and increase your spouse or civil partners allowance by the same amount. This will apply for the current tax year and will continue into future tax years.

If they usually complete a Self-Assessment return, we’ll write to them to confirm the transfer.

If they’re employed and pay tax via PAYE, we’ll send them a revised notice of tax coding by post.

There is no need to contact us.
took less than 5 minutes on-line and will save them £212 in the current tax year

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Re: Transferable tax allowances for married couples and civil partners

Post by blythburgh » Thu Jul 09, 2015 8:19 am

I am a firm believer in marriage but totally disagree with this.
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Re: Transferable tax allowances for married couples and civil partners

Post by macliam » Thu Jul 09, 2015 10:26 am

blythburgh wrote:I am a firm believer in marriage but totally disagree with this.
Care to elaborate? :eh:
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Re: Transferable tax allowances for married couples and civil partners

Post by blythburgh » Thu Jul 09, 2015 10:59 am

I think marriage is a far more stable environment to buy a house and to bring up children, But some couples choose not to marry before or after the mortgage and/or children, That is their choice and it is nothing to do with me.

But I think it is unfair on "hard working families" that those who chose to marry get a tax rebate but those "hard working families" who choose not to marry do not.

I would like someone in the Govt. to tell me the difference between "hard working families" and "working families". And if there is no a difference then why suggest there is.
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Re: Transferable tax allowances for married couples and civil partners

Post by macliam » Thu Jul 09, 2015 12:24 pm

blythburgh wrote:I think marriage is a far more stable environment to buy a house and to bring up children, But some couples choose not to marry before or after the mortgage and/or children, That is their choice and it is nothing to do with me.

But I think it is unfair on "hard working families" that those who chose to marry get a tax rebate but those "hard working families" who choose not to marry do not.

I would like someone in the Govt. to tell me the difference between "hard working families" and "working families". And if there is no a difference then why suggest there is.
Spouse or civil partner .... i.e. a couple in a stable, recognised relationship.

Otherwise, Jack the lad would be claiming from each of his girlfiends (or VV) ... or a different one every few weeks. :roll:
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Re: Transferable tax allowances for married couples and civil partners

Post by William Joseph1 » Thu Jul 09, 2015 1:15 pm

Whilst i do not agree it is necessary to be married or in a civil partnership to be in a "stable, recognised relationship." If you feel as a society that you want to encourage relationships to take a formal route. Then this would seem to be one of the better ways to do it. I am not sure that anyone is going to be encouraged to put their relationship on a formal basis for the sake of the tax relief they might get.
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Re: Transferable tax allowances for married couples and civil partners

Post by macliam » Thu Jul 09, 2015 2:13 pm

ItsADunDeal wrote:Whilst i do not agree it is necessary to be married or in a civil partnership to be in a "stable, recognised relationship." If you feel as a society that you want to encourage relationships to take a formal route. Then this would seem to be one of the better ways to do it. I am not sure that anyone is going to be encouraged to put their relationship on a formal basis for the sake of the tax relief they might get.
Not so much "formal", as legal - i.e. recognised by the state and with statutory responsibilities. Everyone knows of couples who have lived together for years, etc., etc. - but they are not recognised by the state as a couple and it is the state that raises taxation or provides allowances against tax.
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Re: Transferable tax allowances for married couples and civil partners

Post by expressman33 » Wed Oct 26, 2016 6:39 pm

A reminder to any couple that might benefit from the tax allowance transfer that this can still be don for the tax year 2016/17 and also back dated for the tax year 2015/16

https://www.gov.uk/marriage-allowance/how-it-works

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