will my wife pay any tax?

evenasus

oldfella wrote: »

And 20% on anything above £6475.

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if you have no earned income in this bracket, you pay 10% on the next £2440

Sorry. Doh to me :rolleyes: I meant to put £8915.
That's for the year 2009-2010. Slightly lower allowances for last year.

Lokolo

mr_fishbulb wrote: »

Doesn't stop her from buying shoes with it

Women *tish*

evenasus

Lokolo wrote: »

mr_fishbulb wrote: »

Doesn't stop her from buying shoes with it

Women *tish*

Hey, not all women! I hate shopping, especially for shoes and clothes. Always have.

cocktail

sam1970 wrote: »

thank you guys....i know that you should never trust a woman but i will take my chances:rotfl:

NOOOOOOOOOOOOOO! STOPPPPPPPPPPPPPP!
never ever even think of doing that!
you have been warned

joemardo1

oldfella wrote: »

was just wondering if the tax people would look on this as tax avoidance, and as regards the r85 form could the mere fact of submitting this form to the tax people start a full tax investigation

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no - you are within your rights to transfer between husband and wife, and you have every right to arrange your affairs to reduce your tax

tax avoidance is legal - tax evasion is not

Does this still apply if you are living together but not married?

thanks

nico26

joemardo1 wrote: »

was just wondering if the tax people would look on this as tax avoidance, and as regards the r85 form could the mere fact of submitting this form to the tax people start a full tax investigation

Joe

My husband is a high rate tax payer and Ive had no problem putting any savings in my name been doing it for years. Only problem being if I suddenly snuff it and my hubby not be able to get any money out.We have offshore account where his pay goes into as in dolars and any we want to bring back goes into my name in accounts or fixed term accounts.

Hungerdunger

joemardo1 wrote: »

Does this still apply if you are living together but not married?

I think the answer is "yes", with two caveats:
1) If you and your partner split up, you'd have virtually no chance of getting the money back from her.
2) If she were to die without making a will, the money might well end up in someone else's pockets.

Robert_Sterling_3

oldfella wrote: »

0% on the first £6475, then 10% on the next £2440

Keep up Keep up

The 10% band was abolished.

jem16

Robert_Sterling wrote: »

Keep up Keep up

The 10% band was abolished.

Not for savings income it hasn't.

Looks like you need to keep up.

CLAPTON

joemardo1 wrote: »

Does this still apply if you are living together but not married?

thanks

In general anyone can give anyone else money without tax implications (other than potentially IHT).

So you can give her money and if she chooses to save it in ISA or a savings a/c and complete a R85 then she can ..but it is now her money.

Other transfers are not necessarily tax free between cohabiting couples that would be between married couples (i.e. assets where CGT is applicable).