New tax break for married couples
If you are married or in a civil partnership, you may be able to benefit from the new tax break for married couples announced last week – a transferable tax allowance for married couples.
This new tax break will come into effect from April 2015 and will allow one individual to transfer a fixed amount of their personal allowance to their spouse or civil partner. The transferable tax allowance will only be available to couples where neither of the partners is a higher rate taxpayer.
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