Can I transfer my wife's ISA into mine?

stphnstevey

As the title suggests, can I transfer the ISA my wife has built up into mine?

margaretclare

No, because each individual has their own tax-free ISA allowance.

It's because each individual is taxed separately i.e. has separate allowances.

Your wife's ISA is her own.

Margaret

lisyloo

Out of interest why would you want to do this?
If you can explain what you are trying to acheive then we might be able to help.

I can't think of an obvious reason why you would want to do this.

stphnstevey

I am using the 3K cash ISA allowance per year (I know I can use upto 7K but don't want to invest in shares). My wife does not use her allowances (she doesn't earn enough herself to save 3K a year. I save more than 3K a year and wanted make use of her unused ISA allowances. Being a bit overcatious I know, I would rather have my money in my name.

Therefore, I invest 6K of my money into ISA in my name and also one in my wifes name (all done with her knowledge!!). I was then wondering if I could transfer my wifes ISA into my ISA.

Appartly not

Chrismaths

Hmm. You know if you get divorced half of it's hers anyway? Whether it is in your name or hers makes no difference once you are married.

ReportInvestor

stphnstevey wrote:

Being a bit overcatious I know, I would rather have my money in my name.

But clearly greed has proved more powerful than caution in the past .

dunstonh

I am using the 3K cash ISA allowance per year (I know I can use upto 7K but don't want to invest in shares).

You are aware that the 4k stocks and shares allowance doesnt mean you have to invest in shares? There are non stockmarket options available for that bit of the allowance as well.

Dave_P161

dunstonh wrote:

You are aware that the 4k stocks and shares allowance doesnt mean you have to invest in shares? There are non stockmarket options available for that bit of the allowance as well.

I am interested in this. Could you give a pointer to where I could investigate this area further or an example of the type of investment you are suggesting.
TIA

stphnstevey

Me too - do you mean life insurance?

Bossyboots

Chrismaths wrote:

Hmm. You know if you get divorced half of it's hers anyway? Whether it is in your name or hers makes no difference once you are married.

Thats not necessarily true but this is not the thread for that discussion.

However, being in her name, it will be classed as her asset,

ariba10

It would appear that todays thinking is 'Whats yours is mine and whats mine is my own.'

I do not know how you can get into a relationship with somone you do not trust.