Married couples urged to apply for Marriage Tax Allowance

Married couples in the UK have a chance to receive £250 in cash through the Marriage Tax Allowance. This allowance allows one partner to transfer part of their personal tax-free allowance to the other partner if they earn more. The Marriage Allowance for the current tax year is worth £252. Couples can also backdate claims for up to four tax years. This means they could collect a total of £1,258. However, the deadline to claim for the 2020/21 tax year, which is worth £250, is approaching on April 5. Couples need to act quickly to secure the funds. To qualify for the Marriage Allowance, couples must be married or in a civil partnership. They also need to ensure one partner is a non-taxpayer while the other is a basic-rate taxpayer. This means the higher earner earns between £12,571 and £50,270 per year. Couples can apply online through the HMRC website for the current year. But, to backdate claims, they must submit their application by post. Details on how to apply can be found on the official website. If the application is successful, the couple will receive the funds as a bank transfer or cheque. Remember, it is the lower earner who must apply for the Marriage Allowance.