The government will not introduce a tax break for married couples in next month's Budget, though an allowance is likely to be introduced in this parliament, according to reports.
A measure that would permit one stay-at-home member of a married couple or civil partnership to be able to move £750 of their tax-free personal allowance to their working partner - thereby reducing their tax bill - is likely to be introduced before 2015. However, there had been speculation that the Prime Minister, David Cameron, would bring in the tax break earlier than planned to appease Conservative backbenchers who are opposed to gay marriage, reports the BBC. But it is understood the measure will not feature in the next Budget, which is due to take place on 20 March. The Common...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes