Best Accountants in Lewes

Happy Valentines Day from the team at DMC! nnToday is a good day to remind all the married couples out there that they may be able to apply for a tax refund by claiming the Marriage Allowance for the last 4 tax years. To be eligible, the following conditions must apply:nn- You must be married or in a civil partnership nn- The partner making the claim must have earnt below the personal allowance (currently £12,570) in the tax year you wish to make the claimnn- The other partner is paying tax at the basic rate, which usually means their income is between £12,571 and £50,270nnThe marriage allowance works as follows:nn- The partner who's earnings are below the personal allowance makes the claim and transfers 10% of their personal allowance to their partner who is paying tax at the basic ratenn- The partner who has received the extra 10% personal allowance will have their tax calculation reworked for the years for which the claim has been made, resulting in a tax refund due to them.nn- The partner who receives the tax refund spends it on a romantic getaway for 2...nnApplying for the tax refund is free to do and you can do it yourself by following the steps on the gov.uk website.nnPlease note that if your circumstances change and you are no longer eligible you will need to let HMRC know. If you fail to tell HMRC, the claim will continue to be made which could result in a higher tax liability overall. You can call the income tax helpline if you are unsure.nnIf you need help with your self-assessment tax returns then please get in touch. We cover East Grinstead, Uckfield, Lewes, Tunbridge Wells, Haywards Heath and Crawley - with clients across the South East.