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Tax planning for loving couples

KEY POINTS

  • A Valentine’s Day reminder of tax advantages for couples.
  • Tax benefits for spouses or civil partners who are employees.
  • Gifts can be subject to capital gains tax and inheritance tax benefits.
  • Ensure that business gifts remain eligible for entrepreneurs’ relief.
  • A reminder of the exemption for gifts of chattels.

Valentine’s Day should be a time for harmony between couples. I happily admit that my wife and I still exchange cards after many years of marriage; unfortunately this is the cause of annual disharmony between us.

She complains that Valentine’s Day cards should be anonymous and therefore I should not sign my card to her (although I would have thought that the words “To my wife on Valentine’s Day” on the front of the card provides a...

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