Don’t forget your Marriage Allowance!

The Marriage Allowance has been around since 5 April 2015. It allows you to transfer 10 % of your Personal Allowance (£1,150) to your husband, wife or civil partner – if they earn more than you. This reduces your partners tax by up to £230.

Who can apply for Marriage Allowance?

You need to meet the following conditions in order to apply for the marriage allowance:

·         You and your partner were born after 6 April 1935

·         You’re married or in a civil partnership

·         Your income is £11,500 or less

·         Your partner is a basic rate taxpayer (ie. income between £11,500 and £45,000 or £43,000 in Scotland)

If all these conditions apply, you claim can be backdated to include any tax year since 5 April 2015 that you were eligible for Marriage Allowance. You will keep getting the tax break in the future too as long as the eligibility doesn’t change.  If your circumstances do change, you or your partner can cancel the marriage allowance online.

How to apply

To apply for it online, follow this link https://www.gov.uk/apply-marriage-allowance

To apply by phone, you can call HMRC on this number 0300 2000 3300

You will need yours and your partners national insurance number and something to prove your identity.

More information

More information can be found here:

https://www.gov.uk/marriage-allowance

As usual, if you would like any further details on this or any other accountancy matters, please follow this link:

In the meantime, here is a download for next month’s tax deadlines: October tax dates

Youngest daughter is now off to school

I can’t quite believe that my youngest daughter is now off to school. Today is the last day of half days for settling into school. From next week both my daughters are at school. Freedom! Woo hoo!  A little part of me is quite glad that school has started and we can get back into a routine. Another part of me is feeling a bit sad that this phase of childhood is over. It’s strange when something is over I want to go back and recapture it, hold onto it a little bit longer. Continue reading “Youngest daughter is now off to school”

The Price of Privilege – Madeline Levine, Ph.D.

The Price of Privilege is another parenting book highlighting the plight of parenting in this day and age. The author is a psychologist who treats a lot of wealthy family kids – especially teenagers.  The case studies themselves are enough to make you feel unbelievably sad and unhappy. It gets you thinking about your childhood and that of your kids.  You hope and pray that you are doing everything right and the doing your best is enough. But there are so many little incidents that ring true that make you think, is that me? Will that happen to my girls? Continue reading “The Price of Privilege – Madeline Levine, Ph.D.”

National Insurance Class 1

Class 1 national insurance is due to HMRC if you are in employed work and are earning a salary at a certain level. Class 2 national insurance will be abolished in April 2018 leaving only a new potentially reformed Class 4 national insurance for self-employed workers.  The Class 4 NI could be changed to make it more like Class 1 NI with entitlement to state benefits that are currently available by paying Class 2 NI.  So, for that reason, I will look at Class 1 NI in more detail here. Continue reading “National Insurance Class 1”

Back from sunny Fuerteventura

This year we decided to go on holiday for 10 days to sunny Fuerteventura. I was a bit unsure about 10 days.  Wouldn’t we get bored? What are we going to do for 10 whole days in the same place? But it actually went quite fast.  Continue reading “Back from sunny Fuerteventura”

How to live on 24 hours a day by Arnold Bennett

This book, ‘How to live on 24 hours a day’ is about how to use your time more effectively during a working week.  It assumes you get home for about 7, eat and rest and then you still have about 3 hours to do something productive.  I’m not too sure what I think about this book. At times it can be a little condescending and patronising but I have to remember that it was written in 1908 originally. Continue reading “How to live on 24 hours a day by Arnold Bennett”

Obsession with old books

I love old books – pre ISBN books.  Some books I have acquired have nothing to do with what I do or have any interest in them apart from the fact that they are books.  Sometimes I think maybe I should think about selling it as I don’t have any practical use for it but a part of me can’t ever do that. Continue reading “Obsession with old books”