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.
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Income tax allowance part II
If you are married or in a civil partnership and your spouse earns £11,500 or less, they can transfer up to £1,150 of their personal income tax allowance to you (if you earn between £11,501 and £45,000, or £43,000 if you’re in Scotland).
This could reduce your tax bill by £230 in the 2017/18 tax year and you could even backdate the claims to 5 April 2015.
Tags: 7IM