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Review, Plan & Save Tax

A new tax year and a good opportunity to review your finances and financial planning. When was the last time you looked at all your existing policies, whether they are life cover, pensions or savings plans? Are they value for money? Are they still doing what they were intended for? The personal allowance will increase to £12,500 for 2019/20. Since 6 April 2015 it has been possible for one spouse to transfer 10% of their personal allowance to the other spouse provided neither spouse is a higher or additional rate taxpayer. l For 2019/20 the threshold for the start of higher rate tax on taxable income (outside of Scotland) has increased to £37,500. A 45% tax rate applies to taxable income that

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