Millions of people could be missing out on £1,188 simply due to being married, we can reveal.
People who are married or in a civil partnership could be due hundreds of pounds a year in tax breaks – and 2.4 million couples have no idea what they are owed.
In April 2015, HM Treasury introduced the Marriage Allowance, which means married people can reduce their tax bill. In order for couples to be eligible one must earn £12,500 or less and the other must earn between £12,500 and £50,000.
Marriage Allowance allows the lower earning partner to transfer a £1,250 tax-free allowance to the other.
As the higher earning partner would have paid 20% on this, they get £250 as a cash payment as well as an overall reduction in their tax bill. As a result, the couple could up £250 a year better off.
In order to claim, both people must have been born on or after 6th April 1935. The good news is it can be backdated for the previous four years, meaning if you claim for 2020-21, you could get back over £1,000.
The exact number could vary because the amount that a person can earn tax free has not been the same every year.
Rebecca Hutton, an adviser at Marriage Tax Claim, said “every couple who is married or in a civil partnership should take advantage now.”
“It’s time to say ‘I do’ to tax breaks and get back what you’re owed,” Rebecca told us,
“Get in touch with us today and we’ll handle everything for you”.