Martin Lewis, founder of Money Saving Expert, has advised married couples and those in civil partnerships to check if they can claim marriage tax allowance, potentially putting an extra £1,000 in their bank accounts.
Speaking on ITV's This Morning on Tuesday 26 March, Lewis explained that the allowance allows a lower-earning partner to transfer £1,260 of their personal allowance to the higher earner, reducing their tax bill. Claims can be backdated for up to four years before the current tax year, which ends on 5 April.
“You can claim back for four years before the current tax year which ends on 5 April, meaning £1,000 will be yours,” Lewis said. The scheme is available to married couples and civil partners where one partner earns less than the personal allowance threshold.
To be eligible, the lower earner must have an income below £12,570 in the current tax year. The higher earner must not be a higher-rate taxpayer, meaning their income is below £50,270. Couples can apply online via the government's marriage tax allowance page.
Lewis urged viewers to act before the 5 April deadline to maximise their backdated claim. The allowance can be claimed for any tax year since 2015-16, provided the couple was married or in a civil partnership during that time.
