robert douglas logo Tailored Financial Planning
robert douglas logo
         
  home button faq - frequently asked questions online advisor online newsletter  

Income Tax

Your personal allowance is the amount you can receive before paying income tax. The source is irrelevant – it can be earned income or investment income.

 

 
     

 

One of the best ways to save on income tax is to share income, making use of a non-working or lower-earning spouse's personal allowance. The most common redistribution techniques are to give income-generating assets to your spouse and, if you run your own business, to pay your spouse a salary. This could lead to an overall annual saving of thousands.

Contact us today

The FSA does not regulate tax advice.