You can get a pack of overlay reading rulers in 11 colours for £10 on Amazon. They didn't make any difference for DD, but was worth a go.
A lot will come down to the specific difficulties - my DD (nearly 8) has appalling working memory, can't spell and avoids reading like the plague.
We play memory games, do things like colouring in all the 'o's or 'a's in pages of newspapers and then count how many she missed, try to find books that interest her enough to be worth the effort of reading (we do audio books and good films to help keep her vocabulary strong as well) and we gave her DH's old laptop and she has an email account - grandparents send her emails and we encourage her to read them and write replies.
At school she does Toe By Toe with the SENCo every day for 15 minutes and they make allowances for her in class - she was allowed to make a film rather than write a story for one project for example, and the teachers are very encouraging of content rather than worrying too much about the spelling. They are also starting her on Latin - it's very phonetic so can't hurt although I am intrigued to see if it helps!
I'm very lucky that her teacher spent the summer on a course on dyslexia and her TA's teenage DD has very severe dyslexia, so they are aware and trying different techniques.
We've made a point of encouraging DD's extra-curricular activities rather than panicking about the academic side of things - she sings and dances very well for her age - and that has really helped with the damage that was happening to her self-esteem and stopped her feeling 'stupid'.
Really push for a proper assessment - ideally you want the WISC-IV and the WIAT-II tests and get all the subtest scores as this will show you where the problems are.
There's lots of good info online, but every child is different so picking and choosing what to use isn't always simple.
FWIW, both my husband and my boss are dyslexic, both went to Oxbridge and both are published writers... their spelling is however spectacularly creative despite the modern wonders of spellcheck. It's a pita, but both have found work arounds over the years and apparently that is the secret to dealing with much of it.
Good luck!