Money Saving Expert Martin Lewis has revealed how married couples could get over £1,000 for free to spend in time for Christmas.
The financial guru has warned on his website that 2.3 million people across the country are missing out on the Marriage Tax Allowance.
Appearing on ITV’s Lorraine, he explained that in some cases those eligible are able to claim £1,188 due to it being backdated over four years.
Martin said: "If in your marriage, one of you is a non-taxpayer and one of you is a basic, 20% rate taxpayer, the non-taxpayer can apply to shift 10% of their personal allowance to the tax payer.
"Your personal allowance is money you can earn without paying tax on it.
"So, this year, 10% of that is £1,250, so think of it, we take £1,250 from somebody who doesn't pay tax, we give it to the tax payer who would usually pay 20% on that, and that's a saving of £250."
This can be backdated for your years, Birmingham Live report, which means some people are getting cheques for up to £1,188.
“This could come really quickly, many people will get this money before Christmas, if they apply now,” he said.
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To qualify for the allowance, one of you needs to be a non-taxpayer which usually means you’ll earn less than the £12,500 personal allowance between April 6, 2020 and April 5, 2021.
The other partner must be a basic 20% taxpayer meaning they would be earning less than £50,000.
If the claim is successful, it lowers the higher earner’s tax bill for the tax year.
It takes just a few minutes to apply, using this application at HMRC.
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