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Show your finances some affection on Valentine's Day

Flowers, chocolates and love tokens are all lovely, romantic and fun but they are short-lived. Investing a bit of time into your finances could prove much more lucrative and be the secret to a harmonious relationship for many years to come.

Don't let cupid take your eye off the savings and savvy money management that you could be sharing with your loved one and family.

Adam Young from Jarrovian Wealth (JW), says: “At this time of year romantic gestures are sweet but giving a bit of time to your finances could ensure your long term future happiness together. It may not seem like such a romantic gesture to be tackling tax, pensions and wills but some clever financial planning could end up being the gift that just keeps on giving, throughout your lives and beyond.”

Adam, co-founder and financial planner with JW, has some tips to follow.

• Use all your allowances. The Marriage Allowance — it's not going to make you rich overnight but is worth taking advantage of as it knocks up to £250 a year off your tax bill. To qualify married couples or those in a civil partnership need to have one partner who is a non-tax payer (either doesn't pay income tax or earns less than £12,500 per year) and the other a basic rate taxpayer. The non-tax payers can transfer up to £1,250 of their Personal Allowance to their husband, wife or civil partner and this reduces their tax bill by up to £250 per year.

• ISAs — as the end of the tax year approaches ensure you make full use of your tax efficient savings opportunities. From using your full £20,000 ISA allowance to topping up your other half's saving, and considering investing into a Junior ISA for your children or grandchildren. The JISA annual allowance is £4,368 — but for older children between ages of 16 and 18, they can also invest up to £20,000 in a Cash ISA.

• Get clever with Capital Gains Tax. If you have any of your £12,000 Capital Gains Tax allowance remaining for the current tax year, now is the time to make disposals. You can also transfer assets such as investments and rental property to your spouse or civil partner as an outright gift, and this will help reduce CGT when they are eventually sold.

• Top up those pensions. With some careful planning ahead of retirement it can be possible for pension contributions to be split between a couple — meaning that when it comes to retirement, you can each use your full £12,000 Income Tax allowance and pay less tax. Often one partner ends up not paying tax as their retirement income is below the threshold, while the other is hit with a hefty tax bill. So, instead of filling up just one pension pot, you can have two and enjoy a combined £24,000 tax free income.

• The wisdom of wills. Not the best subject to bring up on Valentine's Day but it is crucial you have up to date wills in place to ensure you don't leave your loved ones with any financial heartache should the worst happen.

About Jarrovian Wealth
JW was established in 2017. Our team of skilled and experienced financial planners does more than just look after the numbers for clients around pensions, investments and protection — both personal and business. We get to know and understand the deeper motivations and aspirations, so we can challenge people to think bigger. While knowing they are in a safe pair of hands building up a secure financial future. We may be one of the newer players but we are packed with experience as our clients have been trusting our experts with their financial lives for over 30 years.
We don't just focus on individuals we incubate businesses too helping entrepreneurs and those up and running to get ventures off the ground, stay on track and plan the perfect exit strategy, so owners can focus on the day job of running the show.
JW’s headquarters are in London. For more information visit:

Media Contact:
Paul Smith Associates: Paul Smith Tel: +44 (0)7771 623 007;

Jarrovian Wealth Contact:
Adam Young — Tel: + 44 (0)7973 526 264; Email:

21st February 2020