- If you are married or in a civil partnership, make sure you use all your allowances
- Transferring investments to your partner can generate significant tax savings
- Joint financial planning is harder for unmarried couples
There are big tax savings on offer for couples who plan their finances together. Not all married couples feel comfortable with handling all their money together, but for those that do, it can reduce your tax bill in a number of areas, from investing to inheritance tax (IHT).
Meanwhile, the opportunities are considerably fewer if you are living together but are unmarried. If you think this is the right choice for you, or you are simply not ready to tie the knot, you should be aware of the potential pitfalls and risks, especially if one of you dies unexpectedly.