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TIP 1. Use your personal allowances.
Did you know that You are allowed to have income of Â£6,475 a year before you start to pay tax rising to Â£9,490 when you are aged 65?
It is important therefore to plan for making the best use of these tax allowances. Between a couple, you could receive around Â£19,000 of income per year, before you pay any tax!
You can do this by putting savings accounts into the name of the non-taxpayer. You can also make pension contributions for him or her as well (these contributions attract tax relief up to Â£3,600 per year).