Urgent warning issued to everyone who is married or in a civil partnership with just days until the deadline

Couples who are married or in a civil partnership have been issued an urgent warning.

With just days until the deadline, couples are being encouraged to check if they’re eligible for the marriage tax allowance.

And you’ve only got until April 5 to claim the full amount, after which a new tax year will begin.

What is the marriage tax allowance?

Marriage tax allowance only applies to you if you are married or in a civil partnership.

One has to be a non-income-taxpayer – earning less than £12,570 a year – while the other has to pay the basic 20 percent rate – which is up to £50,270.

You also have to have been born on or after April 6, 1935 (if you’re under 88, which most of us are, you’re fine).

How much money can you claim?

Martin Lewis – who regularly reminds people to check if they’re eligible – has previously explained: “The non-taxpayer can apply to shift 10 percent of their £12,570 tax-free allowance to their spouse, so they can now earn £1,260 more (it’s rounded up) without paying 20 percent tax on it.

“That’s a gain of £252 per tax year.”

How do I claim the marriage tax allowance?

The beauty of the marriage tax allowance is that it can be backdated for five years.

“If you’ve been eligible since 2019/20 you can backdate it for a gain of £1,260, but go quickly, or you’ll lose the earliest year,” Lewis says.

Going forward you also don’t need to reapply, meaning it’ll just keep landing in your bank account if you are still eligible.

To get the full whack for the last five years, you need to do it by April 5 as Lewis advises that is when the tax year ends and a new one begins.

The non-taxpayer needs to apply for marriage tax allowance, and you can do so on the HMRC website here.

What else do you need to know?

Martin warns couples to ensure that you will benefit from marriage tax allowance before you apply.

Over on the Money Saving Expert website, they explain: “Where the non-taxpayer earns between £11,310 and £12,570, there is a chance you and your partner won’t benefit from marriage tax allowance because of the way the tax is calculated.

“In some cases, you could actually end up out of pocket (even if you’re technically eligible).

“So if you’re a non-taxpayer earning more than £11,310 check whether you’ll actually benefit before applying for marriage tax allowance.”

You can do that here.

If you don’t claim by April 5, you’ll lose one year of money (if you’re eligible for the past five years).

So go, go, go!

Featured Image Credit: Getty stock images

Topics: Martin Lewis, Money