Marriage Allowance

needlegaladv

Hi - hope you can help.

My wife's just made the phone call to transfer her 10% over to me and HMRC have confirmed that it's all been done.

Two questions:

If it's not done in time for the end of the current tax year - will I get that as a rebate?

His will be my last taxable pay of the current year (paid on 15th March) - so am I right in assuming that any tax I would have normally paid - if it's gone through in time - I now won't pay tax for the month?

Thanks in advance ☺️👍🏻💷💷💷

Consumerist

Yes but you will have to claim it back from HMRC
and
You'll pay £212 less tax in the final month of the tax year. If that's more than your tax liability for that month then you'll get a rebate.

The Thanks button is the blue one on the left when you're signed in. Is it really too much trouble?

needlegaladv

So - if it's gone through in time - I won't pay tax for this month? I would usually be taxed around £800 - so the allowance is more than that - so I won't pay anything until the allowance is covered?

Consumerist

needlegaladv wrote: »

So - if it's gone through in time - I won't pay tax for this month? I would usually be taxed around £800 - so the allowance is more than that - so I won't pay anything until the allowance is covered?

If it goes through in time - and it does seem to go through quite quickly from HMRC - you will pay £212 less tax than you otherwise would. From your numbers that would be £800 - £212 = £588.

Darksparkle

Tax of £800 per month would suggest an annual income of £50,000?

Are you sure that's correct?

john_coddo

applied for marriage allowance filled in form got reply they altered my tax code to 12m and got my monthly wage for febuary and i paid thirty pound more tax than the months previous

Darksparkle

john_coddo wrote: »

applied for marriage allowance filled in form got reply they altered my tax code to 12m and got my monthly wage for febuary and i paid thirty pound more tax than the months previous

What was your tax code before? 12M seems very low. That means you only have £120 personal allowance.

The standard code this year is 1060L and should change to 1166M

Dazed_and_confused

john_coddo wrote: »

applied for marriage allowance filled in form got reply they altered my tax code to 12m and got my monthly wage for febuary and i paid thirty pound more tax than the months previous

If you applied for it then you would pay more tax as the person who applies is giving away 10% of their personal allowance - your spouse will be the one who pays less tax (assuming they are paying tax to start with)

p00hsticks

Dazed_and_confused wrote: »

If you applied for it then you would pay more tax as the person who applies is giving away 10% of their personal allowance - your spouse will be the one who pays less tax (assuming they are paying tax to start with)

I suspect the poster means that they applied as a couple - the M tax code suffix indicates that they are indeed the recipients of the extra allowance. their spouse should have a tax suffix of N to indicate that they are the transferrer of the allowance.

didactylos_2

Ok just done this in five minutes on the phone to HMRC - wife needed both our Nat Ins numbers and how much her pension was per year. Amazingly simple.