Osborne may shun marriage tax breaks

tax break for married couples

tax break for married couplesWhile it may not be the most romantic notion, many people rightly view marriage as a financially attractive option, with tax breaks potentially becoming available to them.

However, it seems those tying the knot might not enjoy as many benefits as they'd initially hoped for in the future.

Reports suggest that Chancellor George Osborne has decided not to include tax breaks for married couples in his forthcoming financial Budget.

While traditional members of the Conservative Party have long favoured tax breaks for those who get hitched, their Liberal Democrat coalition partners are less keen on the idea.

And now the Sunday Telegraph has reported that marriage tax breaks will not be mentioned in the March Budget.

It appears that senior Treasury officials indicated to the newspaper that Mr Osborne is unlikely to go ahead with the tax break proposals at present.

Married people and those in civil partnerships would have been provided with £150 annual transferable tax allowances under Tory plans which were outlined prior to the 2010 general election.

The Prime Minister has, however, recently been exploring the concept of tax breaks for working mums, which could offer some financial respite for many families.