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Should I cancel Marriage Allowance
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vikkimcd
Posts: 49 Forumite
in Cutting tax
Hi,
I think I am understanding how the allowance works, but before I cancel it could someone please just put my mind at rest?
Several years ago, I was earning well under the yearly allowance so transferred the allowance to my husband who was earning much more. Now I am earning more than the yearly threshold (£12,570) so am I right in thinking I should cancel it back?
I think I am understanding how the allowance works, but before I cancel it could someone please just put my mind at rest?
Several years ago, I was earning well under the yearly allowance so transferred the allowance to my husband who was earning much more. Now I am earning more than the yearly threshold (£12,570) so am I right in thinking I should cancel it back?
0
Comments
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If you are earning more than £12570 there is no advantage in keeping it running unless in Scotland and you are a 19% tax payer where there may still be a small advantage. To cancel it you simply log into your on line tax account and navigate to the marriage allowance section and it will be cancelled from the end of this year.0
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Thanks, this is what I thought. I just wanted to check as I am not the biggest HMRC fan!0
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