{"id":43984,"date":"2023-12-12T14:39:02","date_gmt":"2023-12-12T14:39:02","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43984"},"modified":"2023-12-12T14:39:02","modified_gmt":"2023-12-12T14:39:02","slug":"hmrc-alert-as-2000000-britons-missing-out-on-income-tax-savings-worth-252","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/world-news\/hmrc-alert-as-2000000-britons-missing-out-on-income-tax-savings-worth-252\/","title":{"rendered":"HMRC alert as 2,000,000 Britons missing out on income tax savings worth \u00a3252"},"content":{"rendered":"

<\/p>\n

The Marriage Allowance is a tax incentive put in place by the Government that can be helpful for married or civil partners couples, particularly if one partner or spouse is a lower earner.<\/p>\n

It lets individuals transfer \u00a31,260 of their Personal Allowance to their husband, wife or civil partner, which can reduce their tax by up to \u00a3252 in the tax year depending on income.<\/p>\n

HM Revenue and Customs (HMRC) says only around half the couples who are eligible actually claim it.<\/p>\n

This leaves 2 million couples losing out on savings worth hundreds.<\/p>\n

To benefit as a couple, the lower earner must normally have an income below their Personal Allowance – this is usually \u00a312,570.<\/p>\n

<\/p>\n

People can calculate how much tax they could save as a couple online. They can call the Income Tax helpline instead if they receive other income such as dividends, savings or benefits from their job.<\/p>\n

Couples can also call if they do not know what their taxable income is.<\/p>\n

When one transfers some of their Personal Allowance to their husband, wife or civil partner, they might have to pay more tax themselves, but they could still pay less as a couple.<\/p>\n

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<\/p>\n

Eligibility for Marriage Allowance<\/h3>\n

Individuals can benefit from Marriage Allowance if all the following apply:<\/p>\n