💸 Exciting News for Couples! 💸
Martin Lewis reveals a clever HMRC rule that could put money back in your pockets! A couple recently received a hefty tax backpayment, all thanks to the Marriage Tax Allowance. Curious about how it works?
Here’s the scoop: If you’re married or in a civil partnership, and one of you isn’t working or earns below the personal tax allowance limit, you can transfer 10% of your tax-free allowance to your other half. This simple move can save you around £252 a year! 🤑
One couple shared their story after Martin’s show. They’d missed out on this until Martin explained it. After applying, they received a delightful backpayment of about £1,000, which they used for a much-needed holiday in Cornwall. 🌞🏖️
Imagine that—a dream getaway funded by savings you’ve overlooked! It’s surprising how easy it is to apply on the gov.uk website and start benefiting right away.
Here’s how you can get in on it:
1. Ensure one partner isn’t paying income tax.
2. The other partner should be a basic rate taxpayer (20%).
3. Head over to the gov.uk website and apply to transfer the allowance.
With around 2.1 million people missing out on this, it’s high time to check if you’re eligible. This can also be backdated for up to four years, meaning a possible £1,260 lump sum could be waiting for you. 💰
Every little helps when it comes to finances, especially with the current cost of living. So why not see if you’re one of the lucky ones who can boost your bank balance?
Don’t miss out on this chance to make your money work harder for you! Have you or someone you know benefited from this before? Let us know in the comments! 👇
#MoneySaving #MartinLewis #HMRC #TaxBreak #MarriageTaxAllowance #FinancialTips #CouplesSavings