Marriage

A question about : Marriage

Do you still get tax breaks if you get married or has all that stopped now ?

Best answers:

• Someone asked this a few months ago in a PM and I ran off a list of about 6 tax breaks you get by being married. Unfortunately I deleted the PM and I can't remember half of them now. These will do for now:
  No inheritance tax when one of you dies
  Tax free transfer of assets between spouses (useful for doubling up capital gains allowances and utilising capital losses by "bed and spousing" your assets.)
  I will add any more I think of in due course.
  Of course marriage for tax purposes should probably be frowned upon. ;D
• Thanks for the info any more would be greatly appreciated
  unfortunatly Marriage for me definatly wasn't a good money making tip
  she loves SHOES
• Pal it was me you sent the PM to and I still have it ;D
  Debeast, this is what Pal sent me;
  Quote:
• Thnaks for the info
• The above information was very useful.
  I got married about 18 months ago and throughout the whole of tax year 02/03 (and indeed up to 1st June 2003) my wife was not employed or earning any money.
  I was in full time employment paying 40% tax through the whole of this period.
  Does the above mean that some of my wife's unused personal allowances in 02/03 could be set against my taxable income in that year, thereby reducing my overall tax liability (and so meaning I would be due a tax rebate)????
  Or have I got completely the wrong end of the stick. :-[
  Thanks in advance for any help.
  JohnBoy
• I was wondering exactly the same after reading the above - my wife is a stay at home mum and isn't earning so can I use her tax allowance against my income?
  Anyone?
• I don't belive that you can use someone else's personal allowance against your income.
  You can however put any savings in the name of your spouse and thereby pay no tax (or a lower rate) on your savings.
• Bare in mind the failure of marriage in general and the fact that hardly anyone makes the course .
  So In the long run this piece of paper will cost you a lot of money , not only in divorce lawyers but in the loss of your property and pension ect .
  It is a shame we do not have good legally binding pre marriage laws to prevent cetain partners of either sex gaining a financial gain with no regard for love.
  Note my position softens when children are involved .
  I have a real issue with the custody battles and access rights for unmarried couples who split , the dad generally has no rights.
  On this basis only, many will marry.
• I personally think the reason that many marriages don't last is that people get married too quickly without having lived together to 'experience' each others habits they might find disgusting.
  I have been living with my fiancee for 7 years now, going steady for 12 and we are getting married next year. The reason? Not money, but a bloody good excuse to have a really long honeymoon touring South America
  I'll let you know how we get on
  Quote:
• "I personally think the reason that many marriages don't last is that people get married too quickly without having lived together to 'experience' each others habits they might find disgusting."
  Relationships tend to break down due to a lack of communication and compromise ! :-/, !unlike these message boards!! !Its taking me ages to get through all this communication on here! !
• Sorry, but I don't agree that 'living together' prepares you for marriage. If you love someone, you will commit and accept the other, disgusting habits or not. It's complacency and taking each other for granted that causes the problems in a marriage. As for 'Dad's not having rights', it's often the case that fathers don't want to contribute fair maintenance to their spouse for care of the children - women (the main carers) often struggle and (for obvious reasons) become quite bitter towards the 'absent' father. But, hey, what's all this got to do with money saving tips
• This is nothing to do with money saving but it is a very interesting thread! I have lived with my fiance for nearly two years, we bought our house when we had known each other just six months. We were (are!) just so in love. Living together has made us absolutely certain we can work through anything for the rest of our lives. Communication and having fun together is definitely the key! My brother's sister had been with her boyfriend about 10 years and they got married last year and never lived together. They lived with their parents and they are now struggling to adapt. I say definitely live together before marriage! And if you have ANY doubts, don't ignore them.
• Gal - 1) Person
  2) Person's brother with one parent the same
  3) Person's brother's sister with the other parent of the brother and another different parent.
  Or something like that!
• Sorry! I must have got carried away - I meant my fiance's sister, not my brother's sister! Is that a Freudian slip? Don't even go there!
• spare a thought for us grandparents in all this . when a couple splits we lose out especially if its our sons.Daughters tend to keep the children,so not so bad .we lose contact with the ex partner and then lose the grandchildren who we have come to love so much.A new partner sometimes does not want to know about g/parents from a previous "life".we are lucky emails keep us in touch.
• Terrierlady -
  You can apply to the court for contact as a grandparent. I'm not sure how successful this is though, and of course you've then got the problem of enforcing the order. Unfortunately the best way is the "amicable agreement", but as you say, this is very often difficult.
• Terrierlady, this is a common problem for grandparents when things go wrong .
  They can sometimes be the primary carer then loose all contact .
  In some ways the same can be said for Fathers of unmarried children .
  The woman generally is given custody and will control the rights of access.
  One of the worst situations is where the Mother moves away taking the child with her , sometimes to the opposite end of the country .
• Call me "Old Fashioned" if you like but i totally disagree with couples living together before they get married !>
  Whats wrong with getting married instead of living together.
  I've been married for just over a year now and although our first year of marriage has been very tough, we are much happier being married instead of living together. Marriage shows a real commitment to each other. When you are just living together, one of you could just walk away if things got tough. !
  Marriage vows(for better, for worse). We had the worse, now time for the better !