Married couples and those in civil partnerships can now register for a tax break, which could help them save up to £212 a year.
From 6 April, more than four million married couples and 15,000 civil partners who earn less than the £10,600 income tax personal allowance for 2015/16 will be able to transfer £1,060 of their allowance to their spouse, so long as the recipient doesn’t pay higher rate (40%) or additional rate (45%) tax.
This also applies where a higher earner is self-employed and it means that together, as a couple they will pay less tax.
If you were entitled to this £212 – how would you spend your savings?? Let us know your thoughts.
Have a great weekend