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Martin Lewis, Money Saving Expert, provides the latest tips and tricks to help people cut costs and become more financially efficient. He has multiple platforms which he uses in order to get the word out to Britons on key issues and urge them to take action. Today, Martin appeared on ITV’s This Morning and addressed an important issue when it comes to claiming Marriage Allowance.
One Briton, Jess, wrote in to the programme to ask Martin when she would receive her marriage tax allowance after she and her husband applied for it.
She went on to state she had received correspondence saying she would need to reach out to a Marriage Allowance company to access funds.
However, Martin expressed concern about what the woman had suggested in her letter.
He urged Britons to pay attention as they should not be dealing with any companies whatsoever when making a claim for Marriage Allowance.
Instead, couples should be approaching HMRC directly in order to receive the tax relief to which they are entitled.
Martin described “shyster” companies which he stated offer to provide a service to help couples gain a payout.
Such organisations, however, might charge Britons for a service, and take a cut out of the money a couple would otherwise receive.
This, he said, is to be avoided at all costs, and a far simpler option is available.
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For those looking for a payout, contacting HMRC directly is the key.
Marriage Allowance is available to those who were born after April 6, 1935.
If one person in a couple is a non-taxpayer, and the other is a taxpayer, the non-taxpayer can apply to shift 10 percent of their Personal Allowance to the taxpayer.
The Personal Allowance is the threshold of how much a person is able to earn each tax year without having to pay Income Tax.
The standard Personal Allowance is currently set at £12,500.
For the 2020/21 tax year, therefore 10 percent is £1,250.
The sum, however, can be backdated for four years for those who are eligible.
Therefore, some couples are receiving payouts of up to £1,188 – which could provide valuable support.
At present, there may be hundreds of thousands of people who are missing out on this kind of support – so taking action sooner rather than later is key.
But, as Martin stressed, doing so through official channels is important if Britons do not wish to risk losing out on the sum they are entitled to receive.
It is free to apply for Marriage Allowance and the quickest way to do so is online through the government’s official portal.
Britons can expect to receive an email confirming their application within 24 hours.
However, if an online application is not possible, couples can write to HMRC or claim through self-assessment.
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip.
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