5 overlooked areas of tax planning
By Will Grahame-Clarke, 8 Feb 18
Seven Investment Management (7IM) highlights five often overlooked ways that investors can make the most of tax efficient saving and investing in general.
Isa allowances – passing the strings, as well as the purse?
“For couples, it makes sense to fully utilise each other’s Isa allowance, particularly where one half of the couple has more financial resources than the other, producing combined tax free savings of £40,000 in the 2017/18 tax year,” says Kilvert.
“It comes with a caveat, though – since Isas cannot be in joint names, if you’re handing over a significant amount of money to your spouse’s Isa for tax efficiency purposes, remember that you are handing over the strings, as well as the purse.”