The marriage tax allowance has been around now since April 2015 and allows couples to transfer a portion of their unused tax-free allowance to their partner. Use the calculator below to see how this works out for you.
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There are a number of caveats and those wishing to use the ability to transfer allowances must register with HMRC online at their website. There is a bonus to this if you have not registered before as you can backdate your claim to transfer allowance up to April 2015 - thus the refund you could possibly receive could surprise you!
Caveats include that both partners must be basic rate taxpayers and only up to ten percent of the allowance of the partner with remaining allowance can be utilised.
Over four million couples can be using the allowance according to HMRC figures, but only a quarter of those couples have applied for the tax saving.