Marriage Allowance
If one of a married couple or civil partnership earns less than the Personal Allowance and the other pays tax at the basic rate, the lower earner can transfer £1,260 of their allowance. That is worth up to £252 a year, and a claim can usually be backdated for up to four previous tax years.
Gaps in your State Pension
The full new State Pension needs 35 qualifying years of National Insurance, and at least 10 to receive any. A gap in a recent year can often be filled with voluntary contributions, usually for up to six years back. Each whole year bought adds one thirty-fifth of the full rate, for life.
CoreFi works out what filling each gap would cost, what it would add each year, and how many years of drawing the pension it would take to pay for itself. Whether a year is worth buying depends on your record, so it says when one would add nothing.
Reliefs for expenses and contributions
Flat rate expenses for uniforms and tools, professional subscriptions on HMRC's approved list, and higher rate relief on pension contributions paid from taxed income are among the reliefs CoreFi checks, each with the HMRC reference it rests on.
Questions
Is this advice on what to claim?
No. CoreFi applies HMRC's published rules to the figures you give it and shows what they produce. Whether to claim, and whether you qualify, is for you to confirm, with HMRC or an adviser if you are unsure.
Does CoreFi check benefits such as Universal Credit?
Not today. It covers tax allowances and reliefs, National Insurance gaps and the High Income Child Benefit Charge, not means-tested benefits.
See your own money this way
CoreFi works this out from your own accounts, alongside everything else you own and owe. Join the waitlist and we will email you when it opens.
No spam. One email when it opens, and you can leave the list at any time.