HM Revenue & Customs (HMRC) is urging civil partners and spouses to celebrate Valentine\u2019s Day by claiming the Marriage Allowance.<\/p>\n
It comes after new research revealed that up to two million couples are missing out on the tax break worth up to \u00a3250 each year.<\/p>\n
The Marriage Allowance enables partners with an income of \u00a312,500 or less to transfer up to \u00a31,250 of their Personal Allowance to their significant other (providing they pay income tax at the basic rate between \u00a312,501 and \u00a350,000).<\/p>\n
Claims can also be backdated by up to four years to April 2015, meaning couples could, in theory, claim a tax rebate of \u00a31,150 – now that\u2019s a Valentine\u2019s to remember!<\/p>\n
Commenting on the relief, Angela MacDonald,\u00a0HMRC\u2019s Director General for Customer Services, said: \u201cApplying for Marriage Allowance is a quick and easy way for married couples and people in a civil partnership to have \u00a3250 or more put back in their pockets.<\/p>\n
\u201cIt\u2019s fantastic to see so many couples have already put a few minutes aside to apply, and we hope many more will sign up this Valentine\u2019s Day to take advantage of this tax relief.\u201d<\/p>\n