How 700,000 married couples are missing out on a £900 tax break
The marriage tax allowance is open to millions of couples across the UK, but many people don't know what it is
AROUND 700,000 married couples are missing out on a tax break that would give them a whopping £900 for free.
The marriage tax allowance is open to millions of couples across the UK, but many people have never heard of it and don't know what it is.
The tax perk was set up in April 2015 to encourage more people to tie the knot.
It applies to couples where one of you is a non-taxpayer (earning less than £11,500) and the other is a basic-rate tax pay, so earning less than £45,000 a year.
It's currently available to 4.2 million couples across the UK, but only 3.5 million couples have applied so far, HMRC told The Sun.
How does the marriage tax allowance work?
The system allows couples to transfer £1,190 of their personal allowance (the amount you can earn tax-free each tax year) between them in order to reduce their yearly tax bill.
How do I apply?
You can only apply if you are the non-taxpayer - or lower earner - in the relationship.
Whatever way you apply, any backdated money owed to you will be calculated automatically and set to you as a cheque.
If you need any assistance applying, you can call the HMRC helpline on 03000 200 3300.
Thousands of British parents could be missing out on a tax break worth as much as £2,000 a year, it has emerged.
Over 200,000 parents could also be missing out on up to £85,00 a year by wrongly claiming child benefit.
Meanwhile, Brits will have cheaper holidays in the Canaries thanks to new Brexit tax break.
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