Exclusive tax advantages to beat Budget

BACK IN FAVOUR: Annuities dropped off but just recently decent returns have seen them trending

- By Harvey Jones

THE next Budget is now less than a month away, and many families are looking to take urgent evasive action to escape potential tax hikes from Chancellor Rachel Reeves.

Married couples and civil partners have an edge here, as the system offers them six methods of cutting their joint tax bills.

They get tax savings unavailable to cohabitees and singletons, said Laura Walkley, partner and head of private client at TWM Solicitors. “If you are married or in a civil partnership, you are entitled to potentially valuable tax advantages.”

Savings can be huge, especially on inheritance tax. “They can be worth hundreds of thousands of pounds, so it’s important to take advantage of each of them.”

But whatever happens on November 26, check if you are using all you can.

(IHT) EXEMPTION