The financial guru says there's one cash payout which millions of people are missing out on and the deadline is fast approaching due to the new tax year
Martin Lewis, the money-saving expert, is urging roughly two million people to claim £1,256 from HMRC before a fast-approaching deadline. Speaking on a special Budget 2024 edition of the Martin Lewis Money Show Live on ITV1 and ITVX, he explained that this cash payout is something millions are missing out on due to the new tax year.
He added: "The first one is for people who are married, this is the Marriage Tax Allowance. If you don't apply now you may lose about £250." There are around 2.1M couples who could claim this but aren't. Martin explained that if possible, people can apply to transfer 10% of their tax allowance to their spouse, which could result in a tax saving and a cheque being sent to them.
"So now the non-taxpayer, well they're not earning but the taxpayer has an extra 20% of which they are not taxed. So 20% of £1,260 means they gain £250 a year."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Martin Lewis urges everyone born between 1985 and 2006 to put £1 in bank accountThe Money Saving Expert has issued the advice to help young people get on the property ladder.
Read more »
Martin Lewis says 'clock's ticking' as he urges millions to make £1 paymentPeople over a certain age could miss out on help buying a home
Read more »
Martin Lewis urges people to claim up to £1,256 from HMRC before April deadlineHMRC paid over £1,000 into one viewer’s bank account within two weeks of claiming.
Read more »
Martin Lewis Urges People Born Between These Years To Put £1 In An ISADuring his ITV show, the Money Saving Expert urged that people need to deposit £1 before turning 40.
Read more »
Martin Lewis urges two million people to claim £1,256 HMRC payoutThe financial guru says there's one cash payout which millions of people are missing out on and the deadline is fast approaching due to the new tax year
Read more »
Martin Lewis urges everyone born between 1985 and 2006 to put £1 in bank accountThe Money Saving Expert has issued the advice to help young people buy a house in later life
Read more »