Fiscal advantages for married couples

Cricri

Hi everyone,
I'm about to get married, and the missus is a student (so no full time job, and tuition fees to pay).
Once married, can I get any financial advantages whatsoever? I'm thinking tax reductions or any other scheme that could give me money or cut on my taxes/expenses.
I'm aware that having kids does present such advantages, but I'm not planning to take this step yet
Thanks in advance!

calleyw

In short no.

We as a couple was entitled to the married couples allowance for a whole month after we where married as it was scraped in April 2000.

Yours


Calley

CLAPTON

the only real financial advantages are in things like assetts transfers and (for your heirs) IHT

Cricri

Thanks people.
Well, not much I see, but then I had low expectations anyway

Mikeyorks

Cricri wrote: »

but then I had low expectations anyway

I wouldn't mention that to the wife-to-be!;)

There are no additional allowances available. But ... as you are clearly a taxpayer and she isn't .... you can put any savings in her name and get gross Interest. It may be relatively flimsy at this point ... but it does give you an extra 20% on the Interest. Just make sure she fills an R85 out .. the savings are in her name, not joint ......... and you keep her happy so she's not inclined to blow it all on shoes / handbags!

Cricri

Thanks, I'll think about trying that. Yup, I'm a taxpayer, and although she is, she only is allowed to work 20 hours a week, so she gets her taxes back.
She'd probably wouldn't like if I told her that I can get gross with her as well

CLAPTON

Mikeyorks wrote: »

I wouldn't mention that to the wife-to-be!;)

There are no additional allowances available. But ... as you are clearly a taxpayer and she isn't .... you can put any savings in her name and get gross Interest. It may be relatively flimsy at this point ... but it does give you an extra 20% on the Interest. Just make sure she fills an R85 out .. the savings are in her name, not joint ......... and you keep her happy so she's not inclined to blow it all on shoes / handbags!

but no difference for married or un-marrried

Mikeyorks

CLAPTON wrote: »

but no difference for married or un-marrried

That's quite right ... but remember last week's Poll on when / whether / if you would take out a joint account with a 'partner'? There's an additional 'safety net' in play when you're married! After all there's got to be some benefits;)

Mikeyorks

Cricri wrote: »

She'd probably wouldn't like if I told her that I can get gross with her as well

You may be pleasantly surprised ..... and 20% better off.:cool:

Ian_W

Erm, aren't you guys forgetting that if the OP or spouse was born before 5 April 1935
married couples allowance is still available!

Still as OP isn't up for having kids "yet" - it probably is a long shot!!
But yer never know!! :rotfl::rotfl::rotfl::rotfl:

Cricri

Ian_W wrote: »

Erm, aren't you guys forgetting that if the OP or spouse was born before 5 April 1935
married couples allowance is still available!

Still as OP isn't up for having kids "yet" - it probably is a long shot!!
But yer never know!! :rotfl::rotfl::rotfl::rotfl:

Yup, got all the digits correct, except for the 3