“I, British taxpayer, take thee, modest tax break, to be my lawful wedded Wife, to have and to hold from this day forward, for better for worse…”
Plans for a tax break for married couples have been confirmed by David Cameron ahead of the start of the Conservative party conference in Manchester tomorrow.
A transferrable tax allowance of £1,000 will be introduced for some married couples and civil partners in 2015, resulting in a tax break worth £200 a year.
Around four million couples will benefit from this new married couples tax allowance.
The tax break will only apply if both partners are basic rate taxpayers, so if either pays income tax at the higher rate, it will not be possible to transfer the allowance.
This policy measure appears to be the tradeoff for allowing the Liberal Democrats to introduce their promise of free school meals for children in Reception, Year 1 and Year 2 from next September.
