The financial benefits of getting married – should you say 'I do'?

Marriage may be on your mind as Valentine’s Day approaches but fewer couples are getting hitched. There are legal, financial and tax privileges you could be giving up by not saying ‘I do’ – we look at the financial benefits of getting married

Bride and groom statues balancing on coin stacks
(Image credit: JGI/Jamie Grill)

Fewer people are getting married but impending tax changes could make tying the knot a fiscally-responsible decision as well as a romantic one.

The number of over-16s who are married or in a civil partnership recently fell below 50% for the first time, with under-30s accounting for just 3.2% of this population, according to data from the Office for National Statistics (ONS).

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BandTaxable incomeTax rate
Personal allowanceUp to £12,5700%
Basic rate£12,571 to £50,27020%
Higher rate£50,271 to £125,14040%
Additional rateOver £125,14045%
Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.

With contributions from