PT6 Relief for Married Couples Flashcards
The married couple’s allowance (MCA)
£9,415 is available if either spouse was born of before 6 April 1935.
Married Couples Allowance is given as a tax reducer at ….
10% rather than as a deduction from net income.
Civil partners have the same rights as married couples.
For marriages prior to ________ the MCA is given to the husband. For later marriages and civil partnerships, relief goes to the member of the couple with the higher
total income.
5 December 2005
The MCA is restricted in 2022/23 if adjusted net income exceeds _____ The restriction is
calculated as:
However, the minimum MCA is ______
The MCA is time-apportioned…..
£31,400. (this is in the tax tables)
½ × (Adjusted net income − 31,400)
£3,640. (this is also in the tax tables)
in the year of marriage for the number of tax months during any part of which the couple were married. It is not time-apportioned in the year of death or separation.
The marriage allowance (MA) is …….
10% of the personal allowance (rounded up to the nearest multiple of 10). It is available to married couples and civil partners provided certain conditions are met.
The relinquishing individual’s personal allowance is reduced by the MA. The gaining individual obtains a reduction in their income tax liability equal to 20% of the MA.
Who qualifies for the marriage allowance?
To qualify for the MA, neither individual can pay tax at the higher or dividend upper or additional rate (or would do so if the dividend allowance were ignored).
Who qualifies for the marriage allowance?
To qualify for the MA, neither individual can pay tax at the higher or dividend upper or additional rate (or would do so if the dividend allowance were ignored).
