Wednesday 21 August 2019

4,200 couples 'missing their Revenue wedding gift'

Marriage relief can be claimed for the months after the wedding when a couple continue to be treated as two single people for tax purposes. Stock
Marriage relief can be claimed for the months after the wedding when a couple continue to be treated as two single people for tax purposes. Stock

Anne-Marie Walsh

More than 4,200 newly wed couples may be missing out on a chance to boost their marital bliss by thousands of euro.

A tax consultancy firm said couples married in the last four years are failing to cash in on a wedding present from Revenue by claiming a potentially lucrative tax refund.

They would be entitled to the relief if even 5pc of the 85,246 couples who got married between 2015 and last year did not receive it, according to Taxback.com.

Marriage relief can be claimed for the months after the wedding when a couple continue to be treated as two single people for tax purposes.

If the tax they paid during that time is higher than would have been due if they were taxed as a couple, they can claim the difference as a refund.

They have up to four years to do so under Revenue rules.

Commercial director with Taxback.com, Eileen Devereux, said the tax savings are potentially greater than they were for previous generations because people are older and on higher incomes when they say "I do".

"Thousands of couples throughout the country are gearing up for the big day and most will not be considering the tax implications," Ms Devereux said.

She added many do not get to grips with the ramifications for years after their nuptials.

Irish Independent

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