Ten New Faces at RMT Accountants as Practice Expansion Drive Accelerates
June 1, 2018
A tax allowance for married couples is most likely to be introduced within the next two years, a Treasury Minister has said.
David Gauke has insisted that the measure, which allows married couples and civil partners to transfer part of their tax-free personal tax allowance to their partner, will be in force before the general election in May 2015.
Under the plans, a ‘stay at home’ spouse or civil partner would be able to transfer around £750 of their annual tax-free personal allowance to their partner, equating to a tax reduction of around £150 a year for basic rate taxpayers.
In a letter to Conservative MPs, Mr Gauke wrote: ‘The Prime Minister and Chancellor have consistently made clear that we remain committed to recognising marriage in the tax system.
‘I know that many of you will have heard the Chancellor set out his commitment to deliver on this during the course of this parliament. An announcement on details of how we will legislate for this in this parliament will be made by the Chancellor in due course.’
Commentators say the move is designed to allay growing unease among Conservative MPs over the ‘lack of support’ being offered to traditional families
June 1, 2018