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Thread: Your tax codes change in April - remember to check The Marriage Allowance

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    Your tax codes change in April - remember to check The Marriage Allowance

    Lo people

    Tax free allowances in UK go up to £12,500 in April.

    If you're married or in a civil partnership, if you are a standard rate tax payer, and if your spouse isn't using all their tax free allowance, you can use 10% of it.

    https://www.yourmoney.com/saving-ban...m-the-tax-man/

    Quote Originally Posted by YourMoney
    But as the Marriage Allowance can be backdated up to four tax years (all the way to 2015/16), this means eligible couples can also make the following claims, totalling up to £1,150:

    2018/19 tax year: the current personal allowance is £11,850, meaning £1,185 can be transferred to the partner, resulting in a £237 tax break. However, HMRC rounds the figure up to £1,190, meaning the recipient gets £238.
    2017/18 tax year: the personal allowance was £11,500 so £1,150 was transfer
    able, resulting in a £230 tax break.
    2016/17 tax year: the personal allowance was £11,000 so £1,100 was transferable, resulting in a £220 tax break.
    2015/16 tax year: the personal allowance was £10,600 so £1,060 was transferable, resulting in a £212 tax break.
    Worth 30 seconds of your time to ponder.


    To claim (the lower earner needs to apply), you need to have your National Insurance number and prove your identity via the online Marriage Allowance application portal, such as by giving details from your P60, payslips, passport or child benefit.

    The personal allowance will transfer automatically to a spouse or civil partner every year until one partner cancels the Marriage Allowance because circumstances change, such as for divorce or earning over the personal allowance threshold.
    https://www.gov.uk/apply-marriage-allowance

    'ave it!

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    Re: Your tax codes change in April - remember to check The Marriage Allowance

    Note also that the high earner can't be a higher rate tax payer. Oh whoops, noticed you did actually say that. As you were...

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    Re: Your tax codes change in April - remember to check The Marriage Allowance

    Quote Originally Posted by Butcher View Post
    Note also that the high earner can't be a higher rate tax payer. Oh whoops, noticed you did actually say that. As you were...
    /\ what he said... all of it

    Quote Originally Posted by Advice Trinity by Knoxville
    "The second you aren't paying attention to the tool you're using, it will take your fingers from you. It does not know sympathy." |
    "If you don't gaffer it, it will gaffer you" | "Belt and braces"

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    Re: Your tax codes change in April - remember to check The Marriage Allowance

    I dont understand this, I need to look into it

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