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Marriage Allowance anyone?

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    Marriage Allowance anyone?

    Anyone on here making use of the new marriage allowance - shifting of £1060 PTA to spouse this financial year to improve their tax situation?

    Not checked if i qualify but keen to here others thoughts if helping reduce their tax bill this year
    .Net and iPhone developer - check out Contractor Expenses app @ www.ContractorExpensesApp.com

    #2
    Originally posted by srennocks View Post
    Anyone on here making use of the new marriage allowance - shifting of £1060 PTA to spouse this financial year to improve their tax situation?

    Not checked if i qualify but keen to here others thoughts if helping reduce their tax bill this year
    It's only applicable to basic rate tax payers, so many will not qualify.

    Comment


      #3
      Originally posted by mudskipper View Post
      It's only applicable to basic rate tax payers, so many will not qualify.
      Surely the majority of contractors who income split with their spouse (and they dont have secondary income) are basic rate tax payers and therefore do qualify?
      .Net and iPhone developer - check out Contractor Expenses app @ www.ContractorExpensesApp.com

      Comment


        #4
        Originally posted by srennocks View Post
        Surely the majority of contractors who income split with their spouse (and they dont have secondary income) are basic rate tax payers and therefore do qualify?
        If they income split, their spouse won't qualify - the main earner has to be a basic rate tax payer, and the spouse has to be below the personal threshold - you're effectively using their tax free allowance. (ICBW, haven't looked into it)

        Comment


          #5
          Originally posted by mudskipper View Post
          If they income split, their spouse won't qualify
          Correct.

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