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Have I misunderstood the 'marriage tax allowance'?

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Comments

  • Sea_Shell
    Sea_Shell Posts: 10,480
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
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    Went on line and cancelled my donation of allowance to DH. Very easy.

    Confirmation received that this will take effect from the new tax year, like we wanted.

    All in preparation of me starting drawdown later this year.

    It doesn't actually change our joint tax position, but just gets it back to 'normal' allowances.

    How's it going, AKA, Nutwatch? - rolling 12 month spends to date = 2.85% of current retirement "pot" (as at end October 2026)
  • TeleAddicts
    TeleAddicts Posts: 7
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    Forumite

    you are right of course and that is exactly what has happened.

    She will be paying tax for the first time since taking her state pension anyway but for the tax year 26/27 the amount will obviously be more than had we followed your advice.

    Her state pension increase is £573 pa.

    Her tax demand (26/27) is £613

    So much for the triple lock. 😔

  • MACKEM99
    MACKEM99 Posts: 1,283
    Sixth Anniversary 1,000 Posts Name Dropper
    Forumite

    And the promise no pensioner will be worse off?

    I can think of a reply with several words before off!

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