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Tax Savings - Married Couple
satyenb
Posts: 1 Newbie
in Cutting tax
Hi,
We are a married couple. I am paying income tax at higher rate. My wife is unemployed and has no source of income.
Are there anyways to reduce my income tax?
I know that I can save tax on interest on savings by transferring savings on my wife's name but are there any other ways.
Reagrds,
Satyen.
We are a married couple. I am paying income tax at higher rate. My wife is unemployed and has no source of income.
Are there anyways to reduce my income tax?
I know that I can save tax on interest on savings by transferring savings on my wife's name but are there any other ways.
Reagrds,
Satyen.
0
Comments
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Pay into a pension.0
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there's no way for you to utilize your wife's unused allowances, apart from transfering savings to her.
If you paying into a pension then HMRC will extend your Basic Rate Band so you pay less tax at 40%
Beyond that theres not much else you can transfer between people the only other things are Blind Persons Relief and Married Couples Allowance (but to qualify for this, one of you must have been born before April 5th 1935)He's not an accountant - he's a charlatan0
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