Deloitte comments on plans proposed by the government to allow a tax saving for married couples
26 June 2013
The government has proposed plans to allow a tax saving for married couples of up to £150 for basic rate taxpayers only, and up to £750 of the allowance can be transferred.
Patricia Mock, a tax director in the private client services practice at Deloitte, comments:
“There is no doubt that this change will be welcomed by those couples with a non-working spouse, however higher rate taxpayers who have already lost their child benefit, will not gain from this proposal.
“Couples who like to keep their finances separate will need to think about the fact that the saving will be delivered to the working spouse, rather than the non-working one.
“There will be a challenge over management of the administration cost of delivering this saving, in particular how the unused personal allowance is to be identified, bearing in mind that spouses are not automatically connected in the tax system. Most basic rate taxpayers do not file tax returns.”
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