IFA Promotion (IFAP), the lobby group for Independent Financial Advisers, has released figures that show that in the UK £128m is wasted by couples and families not transferring assets between them.
Our view
In simple terms and as an example, the main worker in the home may be paying tax or indeed a higher rate of tax and if investments were placed in the name of the partner (assuming they pay a lower rate or even no tax), they may save huge amounts of tax.
Contact us now for tax smashing review.