We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Avoiding tax on interest
flying_flanders
Posts: 16 Forumite
Hi, I am a higher rate tax payer and my wife is a non-tax payer. I have a new 9 months 0% BT card which I am considering taking the full credit limit from and stuffing it into an interest account, earning the interest and then paying off in month 9.
Is there anything to stop me opening the savings account (ICICI?) in my wife's name and then paying no tax on the interest earnt?
Is there anything to stop me opening the savings account (ICICI?) in my wife's name and then paying no tax on the interest earnt?
0
Comments
-
No
But as the balance will be in your wife's name you have to be extra nice to her whilst asking for the money back!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards