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.
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.