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Cameron reveals £200 a year married tax allowance

Prime minister David Cameron has unveiled plans for a married tax allowance worth up to £200 a year for certain couples. 

The BBC reports the plan will allow couples to transfer £1,000 of their income tax personal allowance from 2015.

The relief kicks in if neither partner is a higher rate taxpayer and one earns below the personal allowance.

The person earning under the personal allowance will be able to transfer £1,000 of it to their partner, saving 20 per cent or £200.

From April 2014, the personal allowance will be £10,000 and Liberal Democrats want to increase it further to £12,500 during the next parliament. Higher rate income tax starts at £41,451 a year.

The measure will apply to all married couples and civil partners who meet the criteria.

Writing in the Daily Mail over the weekend, Cameron said: “There is something special about marriage: it’s a declaration of commitment, responsibility and stability that helps to bind families.

“The values of marriage are give and take, support and sacrifice – values that we need more of in this country.”

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