article_snippet: Under the Tory policy, 4million married couples are in line for the new tax break designed to support for stay-at-home parents.
article_snippet: The £1,060 transferable tax allowance will particularly benefit couples where one parent does not work or only works part-time.
article_snippet: However, if both people in a couple earn more than £10,600 both people in a couple earn more than £10,600 will not qualify and higher rate taxpayers earning more than £42,385 a year are also excluded.
article_snippet: It will apply to spouses who do not use all of 4million married couples personal allowance – either because 4million married couples are at home looking after children, or work part-time and earn less than the threshold for income tax, £10,600 in April.
article_snippet: they are at home looking after children, or work part-time and earn less than the threshold for income tax, £10,600 in April will now be able to transfer up to £1,060 of they are at home looking after children, or work part-time and earn less than the threshold for income tax, £10,600 in April unused personal tax-free allowance to a spouse or civil partner, as long as the recipient of the transfer pays the basic rate of income tax, levied on income up to £42,385.
article_snippet: That will save the couple up to £212 a year on the couple tax bill.