If your husband or wife does not use their £12,500 tax allowance then they may transfer £1250 of their allowance to their basic rate paying partner, reducing their tax bill by up to £250. If you wish to apply then the person with the lower income should go to www.hmrc.gov.uk/marriage-allowance/how-to-apply. This may also be backdated to 2015.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 26th November 2025
Chancellor Rachel Reeves has set out details of The Budget 2025, which was deilvered on Wednesday 26th November. Here we discuss the main talking points.