Mattioli Woods : Spoil your loved one with HMRC’s Valentine’s Day cash boost

Spoil your loved one with HMRC's Valentine's Day cash boost

Roses are red
Tax options to view
Savings are sweet
Apply, why don't you

HMRC is using Valentine's Day to remind married couples of the potential tax saving using the marriage allowance.¹

Did you know that you may benefit from the marriage allowance if all of the following apply:

• you are married or in a civil partnership
• you do not pay income tax, or your income is below your personal allowance
• your partner pays income tax at the basic rate tax (if you're in Scotland, your partner must pay the starter, basic or intermediate rate)

You can claim for previous tax years too, but only for the last four tax years. So be quick if you want to claim, and if in receipt of a pension, remember to let your pension provider known as this may alter your tax code.

You can head over to www.gov.uk/marriage-allowancefor more information.

Happy Valentine's Day!

¹www.gov.uk/government/news/spoil-your-loved-one-with-hmrcs-valentines-day-cash-boost?utm_source=f464828d-6205-49d4-926d-1c97761284ff&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate