Marriage Allowance Tax Refunds – Are You Owed Backdated Marriage Tax?
Many people are unaware that since 6th April 2015 a new ‘marriage tax allowance initiative’ was introduced, meaning that up to 10% of a partners tax bill could be transferred to a spouse this allowance is then given as a reduction in the recipient’s tax bill.
Marriage allowance tax refunds are something we are increasingly encountering with our many claimants (more than 25,000 successful marriage tax allowance claims of all types) and a nationwide issue which we are enjoying notable success with..
How Do I Know If I Am Owed Backdated Marriage Tax?
Disclaimer: it is worth you checking in with us if you suspect you are owed marriage tax allowance refunds, however below is some information for your references (informational purposes only):
Marriage allowance Savings was introduced in April 2015. It’s possible to claim to transfer the personal allowance for (and from)| 2015/16 and subsequent tax years, this is possible to do now even if there has been no claims processed previously.
Because of this, it is possible to reclaim any possible compensation or redress of the marriage allowance on a backdated basis as far back as 2015.
It is only possible for this to take place is the person giving up the allowance is not using the tax benefit and the person receiving it can use it (which will be dependent on earnings)..
This can result in the couples being able to make the following tax savings, totaling up to £1,150:
2018/19 tax year: the personal allowance was £11,850, meaning £1,190 (rounded up) can be transferred (maximum £238 tax saving).
2017/18 tax year: the personal allowance was £11,500, meaning £1,150 can be transferred (maximum £230 tax saving).
2016/17 tax year: the personal allowance was £11,000, meaning £1,100 can be transferred (maximum £220 tax saving).
2015/16 tax year: the personal allowance was £10,600, meaning £1,060 can be transferred (maximum £212 tax saving).
To apply for the allowance and successfully receive it, it is important to meet the qualification criteria for each year (we can help with this should you decide to claim with us on a no win no fee basis).
How Is It Possible To Claim A Marriage Allowance Tax Refund?
As with most financial claims scenarios, technically it is possible to reclaim the compensation manually by visiting the GOV.UK website, however for people who would benefit from the expertise of solicitors operating on a no win no fee basis, then we at Goldman Knightley would be happy to handle the claim with no hidden fees or upfront costs.
How Do I Get Started With A Marriage Tax Refund?
To begin the process, get in touch with us for a free consultation where one of our advisors will call you about your case to gather more information, from there we can give you more information on how we can help you win compensation on a risk free basis.
Once you speak to one of our specialist advisers’ we can then process your claim and advise you at intervals of any updates on progress.
How Much Marriage Allowance Tax Could I Be Refunded In A Claim?
In a marriage tax allowance claim you could be refunded up to £1,150.
How Long Does It Take If My Claim Is To Be A Success?
It can take up to two months for any marriage tax allowance claims to go through, as the HMRC needs to process each claimants tax code in order for the refund to be issued.