Married couples
In this video, you'll learn how married couples can use asset transfers to reduce their income tax liability, a key tax planning technique for the Taxation paper.
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In this lesson
- 0:00 Tax planning for married couples
- 0:40 Using personal allowances and nil rate bands
- 1:53 Worked example: share transfer strategy
- 4:00 Tax position before planning
- 5:02 Tax position after planning
- 6:16 Tax saving achieved and key takeaway
About this lesson
You'll discover why transferring income-producing assets between spouses can be highly effective, explore the different tax reliefs available to each spouse (personal allowance, savings nil rate band, dividend nil rate band, and starting rate for savings), and work through a detailed example involving close company shares to calculate the optimal transfer strategy. The video shows you how to think strategically about these transfers—not just moving assets, but positioning them to maximise the use of both spouses' tax allowances and lower rate bands, ultimately saving significant tax.
Duration: 7m
Transcript
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