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Today’s Top Headlines




UK Couples Failing To Claim Available Tax Break: HMRC

by Jason Gorringe, Tax-News.com, London

09 January 2017

HM Revenue and Customs has said around 2.9 million couples are failing to take advantage of a tax break available to them worth up to GBP220 (USD267) a year.

The UK's tax-free personal allowance is GBP11,000, with no tax due on income up to this amount. The Marriage Allowance allows a spouse or civil partner who earns less than their personal allowance to transfer GBP1,100 of it to their partner, as long as their partner doesn't pay more than the basic rate of income tax.

According to HMRC, around 4.2 million married and civil partner couples are eligible for the tax break. However, less than one-third of eligible couples are claiming the tax break.

Due to the poor uptake of the Marriage Allowance, since the start of the new tax year in April, couples have been able backdate their allowance and can boost their payment up to GBP432.

TAGS: individuals | tax | law | United Kingdom | individual income tax

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These kind of things should be applied automatically by HMRC if there is budget to entertain the idea in the first place?

Kurt Trew on Wednesday, January 11, 2017