How to Make the Most From Savings ; Alok Dhanda of Dhanda Financial Provides Some Essential Tips to Help You Become Financially-Savvy with Your Savings During These Tough Times.

The Journal › October 10, 2009

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Summary

1 SHARE ASSETS WITH YOUR PARTNER. If you are married or in a registered civil partnership, you could potentially increase your tax free income by switching assets that produce income into the name of the person who has not used all of their personal tax allowance.

If you are both under 65 in the current tax year, you are each entitled to receive a tax-free personal allowance of pounds 6,475 (2009/10). Older savers have enhanced personal allowances. Those aged 65 to 74 have an allowance of pounds 9,490, rising to pounds 9,640 for those over 75.

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How to Make the Most From Savings ; Alok Dhanda of Dhanda Financial Provides Some Essential Tips to Help You Become Financially-Savvy with Your Savings During These Tough Times.

2 MAXIMISE YOUR ISAS. Whilst having any kind of savings account is good news, if you have money sitting in a traditional bank or building society account the chances are you won't be getting the best return on your savings, with the av...

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