These pages explain how a couple can enjoy £65,000 per year of tax-free gains through careful planning and use of annual allowances.
When investing for income the key number to focus on is what you will get after tax; this will be the money you can spend each month.
Most people these days will create their later life income from a number of sources that might include:
A key part of deciding where and in what to invest the liquid elements of your overall assets should be tax planning, taking advantage of the UK’s annual tax allowances, varying tax rates and common state sponsored tax efficient savings accounts.
Put simply, paying less tax means needing to earn less to get the same net income. Needing to earn less to meet your net monthly cash needs when it comes to investing could mean:
Tax issues will depend on everyone’s individual circumstances. Future tax rates, allowances, tax types and the tax treatment of savings and pension accounts will be subject to change. Tax planning needs to be a regular ongoing process.
Non UK resident tax payers will need to get advice on the taxes payable in their country of residence.
In this section: