As my wife's income is below the tax threshold, and I have to pay tax, it appears that we qualify for the new Marriage Allowance (introduced last April).
However, despite looking at countless websites, I am still uncertain
about what 'income' is. Some websites imply that it is total income -
"Anyone who earns less than that amount ? once earnings from work,
savings and pensions are taken into account ? does not pay any income
However, the gov.uk calculator asks the non-taxpaying applicant to enter
"Your annual income. Don't include any savings interest under £5,000)
and the for the spouse
"Your spouse or civil partner's annual income Don't include any savings
interest under £5,000."
So one is left to assume that "income" is anything (gross) - expect
savings interest under £5000. Is this correct (and, if so, why)?
Also, as we are not yet at the end of the current financial year (the
first in which the Marriage Allowance can be claimed), the gov.uk
calculator (in which you can really only enter your income for the
previous financial year, before the allowance came in), is only intended
to provide you with an indication of what your allowance will be 'for
real', when the present financial year ends?
- posted 4 years ago