If you are married or in a civil partnership, you may qualify for the marriage allowance. This is not an extra allowance, but a transfer of 10% of your personal allowance to your spouse. This amounts to £1,150, equivalent to a maximum tax reduction of £230 for 2017/18.
READ MOREIf you are married or in a civil partnership, you may qualify for the marriage allowance. This is not an extra allowance, but a transfer of 10% of your personal allowance to your spouse. This amounts to £1,150, equivalent to a maximum tax reduction of £230 for 2017/18.
When your child is born and either you or your partner has annual income of £60,000 or more, you may decide not to claim child benefit due to the High Income Child Benefit Charge (HICBC) as all of the benefit received would be clawed back. But do you realise that not claiming child benefit can disadvantage both parent and child?
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