The planned married couples’ tax break: how would it work?
The government says it plans to give 4 million married couples a tax allowance of up to £200.
David Cameron confirmed that the marriage tax allowance (as it's called in the announcement), which was part of the coalition agreement, will be introduced from April 2015. The tax allowance will be for married couples and civil partners where one partner either doesn’t work or earns less than the personal tax allowance (which will be over £10,000 by 2015). It will be worth just under £4 a week to 4 million couples.
When money is tight it’s easy to argue with your partner over the finances. But talking isn’t impossible.
Do you and your partner find it hard to talk about your finances? If so, try these tips.
Many couples manage their money without endless arguments but for some, talking about money without it turning into a row is almost impossible. Even if you and your partner don’t argue you may find it hard to talk about money (one study carried out a few years ago found that as many as 75% of couples said money was hard to talk about). And while disagreements don’t have to lead to breakup or divorce, the relationship counselling service Relate says that rows about money are a major factor in many divorces.
What your bank should do if you have a joint account and you split up - and why they may not
Beware - your bank may not know the rules or may not help you if you and your partner have a joint account and split up
If you and your partner have a joint account with an overdraft, a joint loan – or even a joint savings account – beware! Your bank may not do what it’s supposed to when you and your partner split up. I get regular emails and comments from women who’ve broken up with their partner and whose bank hasn’t been helpful – or worse – when they’ve asked what they can do to protect their finances.