The little-known tax loophole means that couples can claim back hundreds of pounds in overpaid tax - and it's entirely legal
State pensioners are being encouraged to reclaim £252 through a lesser-known HMRC tax loophole. The Marriage Allowance is commonly utilised by working individuals, but it can also be beneficial for pensioners, potentially putting up to £252 annually back into their pockets.
For instance, if someone earned £10,000 and their partner earned £48,000, they could transfer some of their unused allowance to their partner, reducing their tax bill, provided they earn less than £50,270. The current state pension stands at £11,502 per annum, but this only applies to those on the full new state pension who have made full National Insurance contributions.
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