💡 Married or in a civil partnership? Martin Lewis has a vital tax tip for you! 🚨
You might be missing out on the marriage tax allowance, which could pocket you up to £1,260 in backdated claims! 💷 That’s right—2.1 million UK couples are eligible but haven’t yet claimed this benefit.
Here’s the scoop: If one partner doesn’t earn enough to use their full personal allowance (currently £12,570), they can transfer 10% (£1,260) to their partner, meaning extra cash in your household. Even those who haven’t claimed for the last four years can still apply and receive a lump sum for previous years. 👫👭
🏦 How it Works:
1. One partner should be a non-taxpayer.
2. Transfer 10% of their tax-free allowance to a basic rate taxpayer partner.
3. Enjoy around £252 extra a year or a total of £1,260 for past claims.
⏰ Deadline Alert: Mark 5th April on your calendar, because that’s when the tax year ends! Martin recommends getting on this by 1st March to ensure you don’t miss out. Just head to Gov.uk to start your claim—better early than sorry!
Don’t wait around and potentially lose out. Share this tip and let others know about this easy win! 💌
#MoneySaving #TaxTips #MarriageTaxAllowance #MartinLewisMagic #DeadlineAlert