MSE News: Couples now able to register to shift tax allowance between spouses
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This all sounds far too messy to police.
I know it'd annoy a few, but wouldn't it just be easier (and probably save more than it would cost to enforce!) to just say "you can transfer X" without qualification?
Actually, I'd genuinely be interested to see what the HMRC overhead for this (in £'s) is expected to be.
It's little things like this and the savings rate of 0% which complicate our tax system so that what was a well intentioned sop to a specific group costs everyone else a lot more.The only thing that is constant is change.0 -
It does sound very messy, but then so is tax credits!0
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"Before you start
You’ll be able to claim Marriage Allowance if all the following apply:- you’re married or in a civil partnership
- you have an annual income of less than £10,600 - including pensions, savings and investments
- your spouse or civil partner has an annual income of between £10,601 and £42,385"
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"Before you start
You’ll be able to claim Marriage Allowance if all the following apply:- you’re married or in a civil partnership
- you have an annual income of less than £10,600 - including pensions, savings and investments
- your spouse or civil partner has an annual income of between £10,601 and £42,385"
or
you’re married or in a civil partnership
your spouse or civil partner has an annual income of less than £10,600 - including pensions, savings and investments
you have an annual income of between £10,601 and £42,385"0 -
So you wouldn't qualify if one of you was a higher rate taxpayer. Some might argue that's unfair. I don't know.
And of course you wouldn't qualify if you both earned less than £10,601 because your spouse wouldn't be using their own full tax allowance, let alone being able to make use of yours.0 -
So, how much extra are people going to get a month? I will be able to transfer to my husband, but would like to see how much extra we would see each month.0
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teabythesea wrote: »So, how much extra are people going to get a month? I will be able to transfer to my husband, but would like to see how much extra we would see each month.
Tax on £1060 pa - ie at 20% = £212 or £17.66 per month
Hardly a fortune - but it will pay the phone line !!0 -
Thanks for that! :-)
I was under the understanding that this was introduced to promote married families, and enable a SAHM/D, I mean, I won't knock £17.66 a month, but it's not enough to do any kind of real benefit !!!0 -
teabythesea wrote: »Thanks for that! :-)
I was under the understanding that this was introduced to promote married families, and enable a SAHM/D, I mean, I won't knock £17.66 a month, but it's not enough to do any kind of real benefit !!!
This assumes that you fit the other requirements
Aged 79+
Don't live in the North-East
Drink to excess most Friday nights
Are not averse to eating currys for Sunday lunch
There may be more "rules" but we will only discover these when we apply for the benefit...0
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