tax

[colin-yorkshire]

hi all, just a quickie, to ask if everyone is aware of the shared personal allowance scheme, probably of more use to us OAP's but could benefit some members who are still working.
from this year April 2015 you can transfer part of one spouses allowance to the other if that partner earns less than £10,000 a year. you can apply on line takes 5mins and you only have to apply once,
this year the the transfer rate is £1060 and increases every year until the limit is reached. or you run out of allowance.
just got my Notification of coding it is worth around £200 a year and back dated from April 5th.
not fantastic amount but better in our pocket than Georges.
here is a link to the web space. https://www.gov.uk/marriage-allowance

 

[Dustydog]

Brilliant Colin!
I'll ask SWMBO to investigate.

 

[Hutch]

Just done this last week after reading tthe thread, it took about 10 minutes on line, the wiife recieved a letter about four days later and I recieved one about a week and a half later with my new tax code and a new code for next year, dont have to do anything, HMRC tell my pension provider etc. Or your employer. Money in our pocket. Not HMRC.

 

[JamesH]

A big thank you Colin for that info.
I decided to do it by phone and got through to the right department within two or three minutes.
Answered a few simple questions and told I should benefit to the tune of about £200.

 

[Gabsgrandad]

Did this on line months ago, got my letter to tell me all was in order and the claim was OK., and I didn't need to do anything further as HMRC would include it in my code etc.

Well surprise, surprise! - got my new coding last week for 16/17 and no mention of it. I am now in the process of 'chasing' them to see what has gone wrong. --- so "watch'em" ( PS their web sites are rubbish! - unless you want to ask them what they want you to ask them!) Just dug the email out -- 19th Dec.

 

[pensioner]

Yes, we became aware of this a little while ago and went for it as I still pay tax and she doesn't.
It's a help and why not,,although I did ask a lot of questions as I firmly believe that there has to be something in it for the government, they're definitely not the benevolent big brother,, Time will tell.

 

[Danddandy]

Yes. Applied last month. . money in bank account this month. . Happy days!

 

[colin-yorkshire]

hi all,
glad the information was of some help, as expected my personal allowance this year was raised by £1060. to £1260.
so indeed gives us back £1060 / 20% = £212, thanks George, :cheer: :cheer: :cheer:

 

[Hutch]

And next year it goes up to £1100, giving me a Tax allowance of £12100, Thanks George qnd HRMC. :lol: