Archive for August, 2009

Tips to make your finances more financially savvy

Follow our quick guide to structuring your financial affairs more tax-efficiently.

Tip 1
If you are married or in a registered civil partnership, you could potentially increase your tax-free income by switching assets that produce income into the name of the person who has not used all of their personal tax allowance. If you are both under the age of 65, you can currently each receive up to £6,475 (2009/10) a year before income tax is payable. For the over-65s there are even higher allowances available.
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What you need to know

Additional State Pension
The earnings-related part of the State Pension built up in the State Second Pension and/or the State Earnings Related Pension Scheme (SERPS).
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