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Income TaxYour personal allowance is the amount you can receive before paying income tax. The source is irrelevant – it can be earned income or investment income.
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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 todayThe FSA does not regulate tax advice.
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Robert Douglas Associates LLP is authorised and regulated by the Financial Services Authority. copyright © 2005 Robert Douglas Associates | sitemap |