Newly Weds

Enterfunnynamehere

Hi there lovely people of money saving expert.
I recently got married in Vegas ( whoop!!) ,and was just wondering if there were any tax breaks these days for married couples?? My wife earns about 28k and I run 3 part time jobs bringing in before tax about 15k.
A friend of mine says I can transfer 1k of my wife's tax allowance against mine.... is there any truth to this?
Any feedback would be greatly appreciated.

Caz3121

nothing currently and even if/when the ability to transfer part of wifes tax code comes in (possibly next year) there would only be a benefit it she was not using the allowance herself (which she is)

zygurat789

Enterfunnynamehere wrote: »

Hi there lovely people of money saving expert.
I recently got married in Vegas ( whoop!!) ,and was just wondering if there were any tax breaks these days for married couples?? My wife earns about 28k and I run 3 part time jobs bringing in before tax about 15k.
A friend of mine says I can transfer 1k of my wife's tax allowance against mine.... is there any truth to this?
Any feedback would be greatly appreciated.

Those days are long gone.
The £1,000 transferable allowance is only for taxpayers who pay at 20% or below, so far so good. However, since you both pay tax it is of no benefit to you. Now if you were to earn less than the personal allowance, currently £10,000 pa then you could transfer any unused amount, up to £1,000 to your spouce.

AlwaysLearnin

There are things like tax free transfering of assets, and transfer of any unused inheritance allowance, but not really anything at the more 'day to day' level I think you're probably talking about.

Congratualtions though!

le_loup

Enterfunnynamehere wrote: »

I recently got married in Vegas ( whoop!!)

No tax breaks but you could have saved yourselves a fortune by getting married at home. However ..........

le_loup

Enterfunnynamehere wrote: »

Infact we saved a small fortune getting married abroad.

Really?
This is a Money Savings Website.

doningtonphil

Yeah. I can see where the op is coming from. The average 'day to remember' wedding in the UK costs upwards of 12k with all the 'hassle' of making sure everyone who goes is happy.

Alternatively, nip off to Vegas for a few days get married by Elvis and lose a quid or two at the casinos for a fraction of the price. Certainly still a memorable day though.

money saved

James_B.

le_loup wrote: »

No tax breaks but you could have saved yourselves a fortune by getting married at home. However ..........

What an ignorant comment. For all you know the OP was there anyway, and so could have only paid a few dollars for the marriage. He could well have been expected to have a large wedding had he been married in the UK, too, and so have had to choose between this and offending his family.

Well done you, for micturating on his low-cost happy day, though.