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Buying in another persons name

natsplatnat · 2011-07-16 12:20:39

Good afternoon All! I usually spend my time over on the DFW board, but today I have a question that I hope you guys here can help with. My (lovely) OH would like to transfer into my bank account a sum of money for me to buy Premium Bonds with (this is not about the pros and cons of Premium Bonds!). We would draw up our own…

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thenudeone Posts: 4,462 Forumite

16 July 2011 at 9:28PM

jem16 wrote: »

No there isn't.

As Linton has already said, the amount might be subject to inheritance tax if the person dies within 7 years but apart from that no tax is due.

Remember - Inheritance Tax is a voluntary levy paid by those who trust their relatives less than they hate the taxman.

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