Missing Out on Financial Benefits

Many individuals, particularly those who are married, have children, belong to low-income households, or are state pensioners, are potentially neglecting significant financial benefits. Specifically, 2.1 million eligible married couples are not claiming the Marriage Tax Allowance, a tax break that allows non-taxpayers to transfer part of their tax-free allowance to higher-earning spouses. This transfer can lead to savings of around £250 annually, and back claims can even total a grant of £1,000 over four years. Additionally, there are various benefits available for low-income families, emphasizing the importance of checking eligibility to avoid missing out on financial support.