No Married Couple Tax Break

No Married Couple Tax Break.

Pressure has been mounting on Government to reintroduce tax breaks for married couples and include civil partners.

Many will remember the 1970’s and early 80’s with married couples allowance and other bonuses such as MIRAS (mortgage interest relied at source).

It has been widely speculated that the ability for couples to share personal allowances would be introduced in the budget next month.

David Cameron has confirmed over the weekend that this is not the case, there will be no bonuses for being married despite the Conservative message of the bigger society and encouraging people to remain in stable relationships.  Stability after means stable finances meaning a move back to stable economies.

Our view
The idea is a good one.  Much of Europe and the World allows for couples to pass on unused personal tax allowances to partners.

The UK used to have this but was removed when self-assessment of income and tax developed.

We cannot see, in this age of austerity, tax breaks like this being reintroduced for some time.

Married couple tax allowances breaks, welcome when they come, but we suggest maybe not until a couple of years.