Tuesday, February 14, 2006

Wedding Gifts from the Taxman

Where one partner in a marriage or civil partnerships is not in full time employment or paying less tax this can be used to the couple’s advantage.

Savings can be put in the name of the person of non-taxpayer or the person paying a lower tax rate, the result less tax is paid.

Assets (property, shares) can also transferred between partners without paying Capital Gains Tax (CGT)

Additionally a non-tax payer can get hefty tax relief by putting money into a Stakeholder pension. The maximum contribution £2 808 (net) becomes £3 600 after tax relief

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Related: Money Seems to be the Hardest Word, Wedding Costs & Insurance,
Credit Cards: Unhappy Marriage
, Marital Bliss & Inheritance Tax

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