Extra tax relief for married over 80s

Source: HM Revenue & Customs | | 11/04/2018

The Married Couple's Allowance (MCA) is available to elderly married couples or those in a civil partnership, where at least one member of the couple were born before 6 April 1935 (i.e. at least 83 years old). The allowance provides for tax relief by deducting 10% of the allowance from the amount of tax due on taxable income. The MCA can reduce a tax bill to zero but cannot result in a refund of tax.

For the new tax year, the maximum amount of married couple's allowance is £8,695. This means that qualifying claimants can receive a maximum deduction of £869.50 from their income tax bill. There is a minimum allowance of £3,360 which could get qualifying taxpayers a minimum deduction of £336.

Planning note

The MCA should not be confused with the Marriage Allowance (MA), which came into force on 6 April 2015 and allows lower earning couples (of any age) to share part of their personal tax-free allowance. The MA allows the lower earning partner to transfer up to £1,190 (2018-19) of their personal tax-free allowance to a spouse or civil partner.



Accountancy service

“Are you feeling confused about how to comply with HMRC’s accountancy requirements?

Read more...

Your business

Your business

Are you a Start-up business? Are you a little confused about the different types of companies? 

Read more...

Virtual Director

Virtual Director

Are you looking to grow your business? A Virtual Financial Director can help you take your business to the next level.

Read more...

Xero

XERO

Ensure that your business has the edge over your competitors and incorporate Xero into your business, today!

Read more...

Latest News

Data protection in the event of a no deal Brexit
24/09/2018 - More...
The government has published the second tranche in its series of technical

Budget date remains to be confirmed
18/09/2018 - More...
The Chancellor Philip Hammond, has stated before the House of Lords Economic

Help-to-Save scheme launched
18/09/2018 - More...
The new Help to Save scheme for people on low incomes was officially opened with

Search News


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login