.png)
.png)
Issue:
4886
/
Categories:
Comment & Analysis
, high-income child benefit charge
, HMRC
, income splitting
, marriage allowance
, Income Tax
Love and tax part 1: Income tax
Key points
- Couples can claim either the married couple’s allowance or the marriage allowance. These are also available for civil partnerships.
- The MCA is a tax reducer and can be transferred from the partner able to claim to the other spouse.
- Less tax may be due on income from jointly owned assets.
- On entering a marriage or a civil partnership and living together for the first time couples could find that they fall foul of the high-income child benefit charge.
Ahh … love and marriage... Mae West famously referred to marriage as ‘a great institution’ but then followed that up by stating ‘I’m not ready for an institution yet’.
Whether a bride and groom are getting married or (a bride and a bride and a groom and a groom) or a couple are forming a civil partnership the tax status of each individual in the union...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
