think I need to get married

[Old Greg]

Except that income shifting between spouses has been attacked by the revenue retrospectively redefining what S660 means

Have I missed this?

[Scrag Meister]

You don't have to be married to someone to give them a share of your company.

WSPS

[Sysman]

It does give you next of kin rights, spousal inheritance rights (you can get these w/o be married, but you have to arrange it). Tax-wise, there's no inheritance tax between spouses and you can income shift. Finally, it's a legally recognised relationship, which can be important under certains circumstances - like it used to be in CH that a spouse would automatically get a resident permit, but a long-term girlfriend, even the mother of your child, wouldn't.

Next of kin rights shouldn't be underestimated. What happens if you or your partner end up in intensive care?

[Old Greg]

Next of kin rights shouldn't be underestimated. What happens if you or your partner end up in intensive care?

They're pretty flexible, except on organ donation.

[NotAllThere]

They're pretty flexible, except on organ donation.

Not if the legal next of kin try to block you. There's a govmint pamphlet about what steps you can take to protect yourselves if you don't choose marriage.

[d000hg]

Finally, it's a legally recognised relationship, which can be important under certains circumstances - like it used to be in CH that a spouse would automatically get a resident permit, but a long-term girlfriend, even the mother of your child, wouldn't.

Even more so if you plan to move to certain countries such as UAE.

[Old Greg]

Not if the legal next of kin try to block you. There's a govmint pamphlet about what steps you can take to protect yourselves if you don't choose marriage.

You'd be surprised at the extent to which good ICU nurses will stand up to next of kin for accessbut agree that for decision making it is different. The patient's best interest is the guiding principle.

[~Craig~]

WSPS

http://www.nixonwilliams.com/images/...20Shifting.pdf

Yes but according to these it would be caught by the legislation.

[wim121]

Well me and the missus have been together nearly 10 years and have never bothered getting married but looking since I'm being battered by higher rate tax on div's etc it looks like I'm missing out on some significant savings from giving her a share of the company. She doesn't work so we may as well use her allowance!

Any advice?

Don't get married.

I'm not saying your marriage will fail, however one has to accept the fact that most of them do nowadays.

If you're getting married for financial motivation, you're in for suffering. What about if you do get divorced? Spend a day observing family courts and you will be wishing you were paying 80% tax now.

If the proposed missus feels the same way about money that you do, then if the worst should happen she will hit you for nearly all your assets, money, support for her for life and full support for any future juniors and that is if she is a nice person and doesn't utilise the police to strip you of ALL your assets and most of your future earning potential as well as punishing you further.

I hope she doesn't have your financial motivation. Please don't get married just for money and heed the advice of others here.

Oh, the romance of all

[Platypus]

If you're getting married for financial motivation, you're in for suffering. What about if you do get divorced? Spend a day observing family courts and you will be wishing you were paying 80% tax now.

If the proposed missus feels the same way about money that you do, then if the worst should happen she will hit you for nearly all your assets, money, support for her for life and full support for any future juniors and that is if she is a nice person and doesn't utilise the police to strip you of ALL your assets and most of your future earning potential as well as punishing you further.

WHS+++

Draw your divs to stay below 40% tax or take the 32.5% hit on the difference: remember if you take £50k you only pay the extra tax on approx £8k (it's surprising how many people don't know that "top rate tax" is only payable on the amount above the threshold. If you did, then don't be insulted that I mentioned it).