Marriage Allowance

Transferring your Marriage Allowance to your husband, wife or civil partner

Matthew Barrand Tax

Marriage Allowance lets you transfer £1,250 of your Personal Allowance to your husband, wife or civil partner. This could reduce their tax by up to £250 and it can be backdated as far back as the tax year 2015/2016, if eligible. To benefit as a couple, you (as the lower earner) must normally have an income below the Personal Allowance …

Taxation and Allowances

Matthew Barrand Blog, Tax

The personal allowance will increase from £11,850 to £12,500 in April 2019, a year earlier than originally planned. The threshold for paying higher rate tax will also rise from £46,350 in 2018-19 to £50,000 in 2019-20. Although there had been speculation that major changes to pension taxation might be in the offing, these didn’t materialise. However, the Lifetime Allowance will …

Important Tax Changes For Buy-To-Let Landlords

Shaun Love Buy-to-Let, Mortgages, Tax

Buy-To-let Landlords are to be taxed differently from April.  Here are the main changes and how you should start planning for them now. The two key changes that will impact upon this are: Finance costs, including mortgage interest, are being phased out until that they can no longer be deducted in 2020/21 when calculating taxable income. The amount of tax …