Tax on Joint Savings

MM1

Is it possible to split the share of joint savings other than by a 50:50 split to take advantage of my wife being a lower rate tax payer?

RayWolfe

Yes it is if the savings are in joint names. You could put them all in your wife's name and that way you would get a lower rate for the lot!

MM1

Thanks. So unless we transfer our savings to my wife, is it correct that we can only declare a 50:50 split?

BoGoF

MM1 wrote: »

Thanks. So unless we transfer our savings to my wife, is it correct that we can only declare a 50:50 split?

That about sums it up

John_Pierpoint

Vote Tory but don't hold your breath:D