{"id":39,"date":"2013-10-01T00:00:00","date_gmt":"2013-10-01T00:00:00","guid":{"rendered":"http:\/\/dev4.2facearts.com\/index.php\/camerons-tax-break-for-married-couples\/"},"modified":"2013-10-01T00:00:00","modified_gmt":"2013-10-01T00:00:00","slug":"camerons-tax-break-for-married-couples","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/camerons-tax-break-for-married-couples\/","title":{"rendered":"Camerons tax break for married couples"},"content":{"rendered":"<p>\n\tIf you are married, and if you and your spouse do not pay tax at the higher rates, you may benefit to the tune of &pound;4 per week if the Conservative party wins the next election, or controls a coalition, from 2015.<\/p>\n<p>\n\tIt is estimated that four million married couples, and fifteen thousand civil partnerships, would benefit from a scheme that would allow the transfer of part of any unused personal allowances, from one spouse to the other, up to &pound;1,000 per tax year. The personal tax allowances in April 2015 will likely stand at &pound;10,000, or more. So if one spouse has income below this amount, and the other income above, then &pound;1,000 of the lower paid spouse&rsquo;s personal allowance can be transferred.<\/p>\n<p>\n\tThe maximum benefit to couples who could claim under this scheme is &pound;200 &#8211; &pound;1,000 at the basic 20% income tax rate. Not every couple eligible to make a claim under this scheme would benefit to the same degree. For example, if the lower paid spouse had income of &pound;9.500 ant the personal allowance was &pound;10,000 for 2015-16, then the maximum allowance they could transfer is &pound;500. This would save their spouse &pound;100 (&pound;500 x 20%).<\/p>\n<p>\n\tIn 2015-16 the higher rate income tax rate of 40% will apply to income in excess of &pound;42,285. Couples where one person earns more than this amount will not qualify for this tax break.<\/p>\n<p>\n\tThe scheme is targeted at married couples. Accordingly, couples in long term relationships, but not married, will not be able to make a claim.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>If you are married, and if you and your spouse do not pay tax at the higher rates, you may benefit to the tune of &pound;4 per week if the Conservative party wins the next election, or controls a coalition, from 2015. It is estimated that four million married couples, and fifteen thousand civil partnerships, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-39","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/39","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/39\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=39"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=39"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}