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Have I misunderstood the 'marriage tax allowance'?
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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)1 -
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. 😔
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And the promise no pensioner will be worse off?
I can think of a reply with several words before off!
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