The UK Marriage Allowance is a tax benefit available to married couples or civil partners who meet certain criteria. It allows one partner to transfer a portion of their personal tax allowance to the other, which can help to reduce the overall tax bill for the couple.
How Much Can You Save by Utilising the Marriage Allowance?
The amount that can be saved by utilizing the Marriage Allowance in the UK depends on the personal circumstances of the couple. The non-taxpayer (or person who is earning less than their annual personal allowance) can transfer up to 10% of their personal allowance to their partner, which can reduce the partner's tax bill by up to £252 for the tax year 2022/23. This means that the maximum amount that can be saved through the Marriage Allowance is £250 per tax year.
It should be noted that if unused, the marriage allowance can be backdated for a maximum of of four years potentially saving you £1000 on income tax bills. Use Our handy calculator below to see how much you could save.
Who Can Utilise the Marriage Allowance to Lower Their Tax Bill?
In the UK, the Marriage Allowance is available to married couples or those in a civil partnership, provided that:
One partner is earning below the Personal Allowance threshold (which is currently £12,570 for the tax year 2022/23).
The other partner is a basic rate taxpayer (which means they earn between £12,571 and £50,270 for the tax year 2022/23).
Savings Calculator:
In order to take advantage of our unique services and claim your tax savings fill out the form below and our dedicated staff will contact you to process your application and submit an application on your behalf.
Click on the links below for more information on your claims process and our company.
ClaimYourTaxRelief.com is a subsidiary of coins Finance Ltd, an accountancy firm based in the Greater Manchester area with over 10 years of experience, dedicated to providing high-quality accounting services to businesses and individuals.
As members of the Institute of Financial Accountants (IFA), we are committed to staying up-to-date with the latest developments in the accounting field and to providing our clients with the best possible advice and support.
Our team is dedicated to helping our clients achieve their financial goals, and we offer a wide range of services including tax planning, financial statement preparation, and bookkeeping.
We charge zero fees upfront and work on a No Win No Fee basis. Our fee is deducted from the HMRC settlement payment, so you will never have to pay anything directly out of your own pocket.
If we are successful in recovering a tax refund for you, we will deduct a fee of 30% plus VAT, subject to a minimum charge of £25 inc VAT. Where the value of the rebate received from HMRC falls below £25 inc VAT or there is no rebate due, there will be no additional charges to pay.
For example, on a £100 tax refund, our fee is £30, the VAT is £6 and £64 is paid to you.
Any refund you receive for a current tax year that’s paid directly into your tax account as a credit is free of charge. There will be nothing to pay us on this part of the refund.
Our fees are simple and straightforward and are not subject to any additional charges or handling fees.
At our website, we take your privacy seriously. We understand that your personal and financial information is sensitive and we are committed to protecting it.
We collect personal information, such as your name and contact details, only when you provide it to us voluntarily through our website. This information is used to fulfill your requests for our services, respond to your inquiries, and send you updates about our company.
We also collect financial information, such as your payment details, when you purchase our services. This information is used to process your transactions and provide you with the services you have purchased.
We may also collect non-personal information, such as your IP address and browsing history, through the use of cookies and other tracking technologies. This information is used to improve our website and better understand our users' needs.
We take appropriate measures to protect your personal and financial information against unauthorized access, disclosure, alteration, or destruction. We use secure servers and encryption to protect your sensitive data, and we regularly review and update our security measures to ensure the safety of your information.
We will never sell or share your personal information with third parties without your consent, unless required by law. We may share your information with trusted partners who provide services on our behalf, such as payment processors, but only to the extent necessary to provide you with the services you have requested.
If you have any questions or concerns about our privacy policy, please contact us. We are always happy to hear from you and will do our best to address any issues you may have.
You will receive a P800 tax calculation letter from HMRC confirming how much you are owed and how this figure was calculated for each of the tax years applied for. HMRC gives itself up to two weeks for a repayment cheque to arrive at its destination. So, once you receive a P800 tax calculation, your cheque should arrive in the mail two weeks later.
When we receive your tax rebate cheque or bank transfer from HMRC, we automatically send out your payment in the form of a cheque, to the address confirmed in the application. This payment includes a breakdown of the amount received from HMRC, our fee, VAT, and the amount due to you.
If you have any questions, please write to info@claimyourtaxrelief.com and request a callback. Our staff will be happy to answer any questions you may have.
