• If income is tight, consider the possibility of renting out a room or two. You can earn up to £7,500 a year from this free of any tax.
• As we reach a point where some help is needed with our affairs, we should consider taking out a Lasting Power of Attorney to ensure there is someone who will be able to assist when needed.
• Make sure you are not paying more tax than you need to. The new taxation of savings income and of dividends may work out in your favour.
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