Clare Moffat, Head of the Intermediary Development & Technical Team at Royal London, responds to the government’s announcement on tax allowance for married couples.
“It’s great news that 1.8m married couples and civil partners have taken advantage of this tax relief by sharing their personal allowances. However, many more couples may be eligible for Marriage Allowance, especially since this can be backdated for the four previous tax years.
"This tax relief can be particularly useful when one person retires but their spouse continues to work, or when someone retires and moves from being a higher rate taxpayer to a basic rate taxpayer and their spouse does not pay tax. If either you or your spouse or civil partner have had a change in circumstances, it’s well worth checking if you could be eligible to claim on Gov.uk to save more money to enjoy together.”
-ENDS-
For further information please contact:
Neil Cameron, PR Manager
- Email: neil.cameron@royallondon.com
- Mob: 07919 171969
About Royal London
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £153 billion, 8.8 million policies in force and 4,075 employees. Figures quoted are as at 30 June 2021.