Getting Married Financial Checklist UK: Tax, ISA, Pension and Wills 2026

Getting married is one of the most significant financial events in your life. Beyond the ceremony costs, marriage changes your tax position, your estate planning obligations, your pension nominations and how you hold assets. Many couples focus on the wedding and overlook the financial admin that follows. This checklist walks through every key action.

Marriage Allowance: Claim Up to £252 Per Year

If one spouse earns below the Personal Allowance of £12,570 and the other is a Basic Rate taxpayer (income between £12,571 and £50,270), you can claim Marriage Allowance. The lower earner transfers £1,260 of their unused Personal Allowance to the higher earner, reducing the higher earner's tax bill by up to £252 per year.

Who Qualifies

• One spouse must have income below £12,570 (or no income at all)
• The receiving spouse must pay tax only at the Basic Rate (20%)
• Neither spouse can be an Additional Rate (45%) taxpayer
• Civil partners qualify on the same basis

You can backdate the claim for up to four tax years, potentially recovering over £1,000. Claims are made through HMRC's online portal.

Who Does Not Qualify

Marriage Allowance does not apply if the higher earner pays Higher Rate tax at 40%. If both spouses earn above £12,570, neither can transfer an allowance to the other. In that situation, focus instead on CGT and pension planning.

Capital Gains Tax: Spouse Transfers Are Tax-Free

One of the most valuable but underused benefits of marriage is the CGT spousal transfer rule. When you transfer assets to your spouse or civil partner, the disposal is treated as happening at no gain and no loss. No CGT arises at the point of transfer, regardless of how much the asset has appreciated.

How to Use This Strategically

Each individual has an Annual Exempt Amount of £3,000 for 2026/27. By holding assets jointly or transferring appreciated assets to a spouse who has lower income, couples can:

• Use both Annual Exempt Amounts (£6,000 combined) against a sale
• Apply the lower 18% CGT rate if the receiving spouse is a Basic Rate taxpayer, versus the 24% Higher Rate
• Spread a large gain across two tax years by timing transfers before a disposal

For example, if you own shares with a £20,000 gain and your spouse is a Basic Rate taxpayer, transferring half the holding to them before selling reduces your CGT from approximately £4,080 (at 24% after AEA) to approximately £1,260 (the remaining gain taxed at 18% in their hands after their own AEA).

Receiving Spouse's Base Cost

The receiving spouse inherits the original acquisition cost for future CGT purposes. This is important because it means the gain is only deferred, not extinguished. When the receiving spouse eventually sells, they will calculate gain from the original base cost.

ISA Planning as a Couple

Each person has a £20,000 ISA allowance per tax year. Marriage does not combine these allowances, but it creates planning opportunities:

• Couples can shelter £40,000 per year in total across their respective ISAs
• Assets can be transferred between spouses to fund each other's ISA contributions (noting the spousal transfer rule for CGT assets)
• On death, the surviving spouse receives an Additional Permitted Subscription (APS) equal to the value of the deceased's ISA, preserving tax-free status

Lifetime ISA Interaction

If either spouse holds a Lifetime ISA, note that withdrawals for a first home purchase are only penalty-free if the property costs £450,000 or less. A couple buying together where one has a LISA and the other does not must check eligibility carefully.

Pensions: Update Nominations Immediately

Pension death benefits do not automatically pass to your spouse through your estate. Most workplace and personal pensions are written in trust and paid at the scheme trustees' discretion, guided by your expression of wishes (nomination form).

Why This Matters

• If you nominated a former partner or no one, the trustees may pay benefits to the wrong person
• Death benefits paid from a pension to a spouse or dependant remain outside your estate for IHT purposes if you die before age 75
• If you die before 75, lump sum death benefits from a pension are generally paid free of income tax to beneficiaries

Action required: Contact every pension provider and update your nomination form to include your spouse. Do this for all pensions, including workplace schemes, self-invested personal pensions (SIPPs) and older legacy pensions.

State Pension and Bereavement

Marriage does not change your State Pension entitlement. Each person builds their own record through National Insurance contributions. The full new State Pension for 2026/27 is £241.30 per week (£12,548 per year), requiring 35 qualifying years.

If your spouse dies, you may be able to inherit Additional State Pension built up under the pre-2016 system. You may also qualify for Bereavement Support Payment if your spouse dies while you are both under State Pension age.

Inheritance Tax: The Spousal Exemption

Transfers between UK-domiciled spouses are completely exempt from Inheritance Tax, regardless of amount. This is the spousal exemption. Combined with the transferable nil-rate band, married couples can potentially pass up to £1,000,000 to their children free of IHT:

The unused NRB and RNRB of the first spouse to die transfer to the surviving spouse's estate. The RNRB applies only where the family home is left to direct descendants.

Wills: An Urgent Priority

In England and Wales, getting married automatically revokes any existing will. If you die intestate (without a will), your estate passes under the Rules of Intestacy. For married couples, the intestacy rules give the first £322,000 and all personal chattels to the surviving spouse, with the remainder split equally between the spouse and children. This may not reflect your intentions.

Checklist:

• Write new wills after the wedding (not before)
• Consider mirror wills for straightforward situations
• Consider discretionary trusts if you have children from previous relationships
• Review property ownership -- joint tenants means the property passes automatically to the survivor; tenants in common means your share passes through your will

Life Insurance and Protection Policies

Marriage is the right time to review protection:

• Ensure life insurance nominations are updated (or the policy is written in trust for your spouse)
• Consider whether you need joint life cover or separate policies
• Review critical illness and income protection cover to reflect your combined financial obligations
• Check that employer death-in-service benefit nominations are updated

Banking and Joint Accounts

Marriage does not automatically merge finances. Practical steps:

• Decide whether to open joint accounts for shared expenses
• Review direct debits, standing orders and salary accounts
• Check that you are using the most tax-efficient account ownership for savings interest (the Personal Savings Allowance is £1,000 for Basic Rate, £500 for Higher Rate, and nil for Additional Rate taxpayers)
• Update emergency contacts and next-of-kin records with banks and employers

Student Loan and Benefits

Student Loan Repayment

Student loan repayment is calculated individually based on each person's earnings. Marriage does not merge student loan liability. However, if you claim means-tested benefits, household income -- including your spouse's -- is assessed jointly.

Benefits After Marriage

Some means-tested benefits are assessed on household income. If you or your spouse receive Universal Credit, Tax Credits or other income-related benefits, report the change in circumstances promptly to avoid overpayments.

The Bottom Line

Getting married creates real financial opportunities -- Marriage Allowance, CGT-free transfers, doubled ISA capacity, IHT exemptions and pension nomination updates -- but only if you take action. The most urgent task is updating your will, since marriage automatically revokes any existing one. Work through this checklist in the weeks after your wedding, and revisit your financial plan together every year or when your circumstances change.