benefits of registering as married

aviator

hi all,
i will soon be getting married. can anyone advise and tell me if my tax code changes and if there are any financial benefits for getting married???

note: there are no children involved...

thanks in advance.

Chollita

The Married Tax Allowance was abolished years ago.

PS Congratulations on the wedding, wishing you lots of luck.

aviator

thanks for the response.
sounds about right - tax, tax, tax!

Thanks

bestpud

aviator wrote: »

hi all,
i will soon be getting married. can anyone advise and tell me if my tax code changes and if there are any financial benefits for getting married???

note: there are no children involved...

thanks in advance.

Just your OH's pay packet. :rotfl:

aviator

OH's pay packet? what does this mean?

thanks in advance.

anyonefortea

OH = Other Half

aviator

sorry for acting 'thick' - but does this mean - my other halfs tax code changes?
and as a result she saves on the tax?

thanks in advance.

dmg24

aviator wrote: »

sorry for acting 'thick' - but does this mean - my other halfs tax code changes?
and as a result she saves on the tax?

thanks in advance.

No, as above, the married tax allowance was abolished years ago.

bestpud was referring to the fact that you now have two incomes in the household.

aviator

i see. Thanks for the advise.

3plus1

aviator wrote: »

sorry for acting 'thick' - but does this mean - my other halfs tax code changes?
and as a result she saves on the tax?

thanks in advance.

If one of you is in a higher tax banding than the other, it can sometimes make sense to shift savings and investments into the other person's name. (Purely from a tax point of view - there may be other factors to consider, e.g. if one spouse is terrible with money, etc.)

There are some inheritance tax advantages to being married, but that's hopefully not an issue you'll need to think about for many years!

Congratulations on the engagement.

Savvy_Sue

dmg24 wrote: »

bestpud was referring to the fact that you now have two incomes in the household.

Not only that, but the OP might want to adopt the attitude "What's yours is mine, and what's mine's my own." Although I'm sure they'd prefer their DW (dear wife) to say "He earns it, I spend it", which was my mantra once DH came off benefits of 50p per fortnight and started earning real money!