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30th September 2013

Married Couples and Civil Partnerships to get tax break

Filed Under: Tax


David Cameron has announced a new tax incentive for married couples that is said to benefit four million couples from April 2015.

The scheme applies to both married couples and civil partnerships and allows the transfer of £1,000 personal tax allowance between partners.

The scheme only benefits couples where one person is a basic rate tax payer, earning below £42,285, and the other person is earning less than the personal tax allowance of £10,000.  The maximum tax saving of this transfer is £200 per couple.

Couples where one person earns over the higher rate threshold of £42,285 will not be eligible for the tax break.

Daniel Langridge
daniellangridge@thlaccountancy.co.uk
01903 300230
 

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