‘Should have been more evident’, says the author. A couple that was planning to add to their pension fund loses hundreds of dollars.
MARRIAGE has numerous advantages, including love and security. It may even include government financial incentives to reward a couple’s devotion through a tax-saving scheme.
Marriage Allowance might be a terrific way to add a few hundred pounds to one’s retirement fund each year, but viewers on Rip Off Britain discovered that the process is not always simple. Some couples have paid hundreds of pounds for what should have been a free tax relief.
David and Bernice Murrow were looking forward to the government’s help, but they discovered that they had deducted 42 percent for administrative and VAT since they applied through a third party rather than directly to HMRC.
Mr Murrow discovered that by taking use of the Marriage Allowance, which was established in 2015, he could save £250 per year.
It permits the higher-earning spouse or civil partner in a marriage or civil partnership to transfer up to £1,250 of their personal allowance to their spouse or civil partner tax-free.
Furthermore, because it was backdated to 2016, the couple was entitled a substantial sum.
“To think that I would be paying a little less on my corporate pension was fantastic,” Mr Murrow added.
“It was a substantial sum, and it would have a significant impact on our way of life.”
David filled out a form with all of this information in order to be eligible for the Marriage Allowance, but he later discovered that he had done so on an unauthorised website that did not function with HMRC.
After a while, the company mailed him a letter informing him that they were taking money from his account for their services.
Following a £401 reduction, Mr Murrow was left with £497.78.
“I assumed they were doing it on behalf of HMRC,” Mr Murrow said, noting that the form and letter that accompanied it included several references to HMRC.
Unfortunately, Mr Murrow overlooked a condition on the company’s website that states that users of the service will be charged a 42 percent administration fee.
“It was my own fault,” Mr Murrow said, “but they should have made it more obvious.”
Many viewers of Rip Off Britain expressed their dissatisfaction with being caught out in the same way as Mr Murrow did.
“At.Brinkwire Summary News,” one victim remarked.