Marriage Tax Allowance May Lead To A Refund

marriage tax allowance

The consumer champion Martin Lewis shared an important thing on his recent podcast. There is a marriage tax allowance available to claim. At least 4.2 million couples are eligible for tax relief. These 2.1 million are yet to claim their checks. Applying for this could give them up to $1,300.All married couples are asked to check their eligibility criteria. The cut-off date is near, so it is better for them if they hurry up.

The Last Date Is Near Filing For Marriage Tax Allowance

5th April 2023, the application is closing for Marriage Tax Allowance. If someone fails to apply for this, they could lose up to $238.April is the only and last month to fix old tax bills. If a couple can transfer 10% of their tax-free allowance to their partner’s account. They could save taxes up to $252 a year.

This scheme is not allowing married couples but also people living in a civil partnership can also apply. Marriage Tax Allowance can give them up to $1,300.The podcast gave an insight saying this is only eligible for those who have not filed taxes in the last four years.

If anyone fails to file the taxes by the 5th of April they could lose a huge amount perhaps. This is a good scope to revive the financial condition. Marriage tax allowance applies to one partner whose current earnings are below the personal allowance threshold, which is $12,570.Couples who have been married for years can apply too.

Couples who are willing to apply for Marriage tax allowance can apply directly via HMRC online portal. This website could satisfy their belief that they will be getting a full tax refund.