Thinking of getting married, first time

harrym1byt

Hi all,

I'm a retired pensioner of 74, own home all paid for, no debts single, never been married and living carefully, though reasonably well, on my state pension of £199.49 alltogether.

My potential partner is 55 and still working, with a salary of around £14.4K and would expect to continue working after we were married, selling her own place.

What difference would us getting married, make to first of all my pension and secondly her tax?     

Dazed_and_C0nfused

Is your State Pension your only taxable income?

harrym1byt

Apart from around £110K in the bank.

xylophone

Apart from around £110K in the bank.

This is capital not income.

Any interest paid on the capital counts as income but assuming a maximum 2% (given current interest rates) and considering your modest pension (your only other income), no tax would be due - see https://www.litrg.org.uk/tax-guides/savers-property-owners-and-other-tax-issues/savings-and-tax.

Getting married will make no difference to your pension or interest in terms of tax.

Presumably you are receiving the single person discount on your Council Tax - this would end when your new wife joined you in your home.

If you should be receiving any income related discount (or any income related benefit) you would need to advise the relevant authorities as your wife's income would be counted as household income and so affect the amount of any such benefit.

Dazed_and_C0nfused

And you can probably apply for Marriage Allowance (once actually married)

This may mean some of your interest will be taxed but at a 0% rate so no tax to pay.  And your wife will benefit from a reduction of £252 in the tax she needs to pay each year.

harrym1byt

I don't receive any income supplements, I have too much in the bank - Thanks.., that's good to know!

IvanOpinion

Your thread title made me laugh "Thinking of getting married, first time", makes it sound like you are already planning a second time.  
I refer to Mrs O as 'the current Mrs O' - I do not want her getting too comfortable.

xylophone

I refer to Mrs O as 'the current Mrs O' - I do not want her getting too comfortable.

Does she refer to you as "my current husband....."?

IvanOpinion

xylophone said:

I refer to Mrs O as 'the current Mrs O' - I do not want her getting too comfortable.

Does she refer to you as "my current husband....."?

Far too often I am referred to as her 'soon to be ex-husband if he doesn't behave' 

harrym1byt

IvanOpinion said:

Your thread title made me laugh "Thinking of getting married, first time", makes it sound like you are already planning a second time.  
I refer to Mrs O as 'the current Mrs O' - I do not want her getting too comfortable.

Odd you should mention that, I refer to her as 'Number Four' I had a partner for 35 years, since when two more brief ones which didn't work out. 'Number Four' is set on the idea of marriage and I have no real objections, I just wondered what the implications might be.

She refers to me as 'Number Two' - all quite light hearted.

xylophone

Far too often I am referred to as her 'soon to be ex-husband if he doesn't behave'  

Crumbs!  Are you getting somebody in to taste the porridge before you do?