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Marriage Relief

Posted on in Tax
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George Osborne has recently announced a new tax break for married couples and those in a civil partnership in certain circumstances. The relief permits one of the parties, if they do not pay tax, to transfer up to £1,060 of their personal allowance to their spouse or civil partner. The relief commences on 6th April 2015.

Naturally with all reliefs there are conditions which are essentially as follows:

  1. The parties are married or in a civil partnership
  2. They have income of less than £10,600 from all sources (pensions, savings etc.)
  3. The party receiving the allowances has income between £10,601 and £42,385
  4. Both parties were born on or after 6th April 1935 (note where one party is born before this date then the couple are eligible for "Married Couples Allowance")

As a firm we shall be ensuring all our clients who are eligible for this relief are able to take advantage but if you have family members who you believe may be eligible then they can now sign up for this relief on the website at H M Revenue & Customs. 

If clarification of the conditions is needed please do not hesitate to contact Gary or Steve.

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