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Gross interest - finished maternity pay - use for new savings?
genny
Posts: 319 Forumite
I've just finished stat. maternity pay and am not returning to work, so my earnings from 6/4/12 onwards are well under this years 8105 personal allowance, presumably I can now registered my accounts for gross interest as long as I don't exceed the personal allowance this year, and we can move some of our joint account balances into new sole accounts in my name to benefit from the higher rate of interest without issue?
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That's right - provided you won't exceed (earned income + gross interest) the £8105.If you want to test the depth of the water .........don't use both feet !0
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Thank - you, just wanted to make sure the "i"s were dotted and the "t"s crossed
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What you are suggesting is not only permitted but is downright sensible!
(as long as you don't mind the current hysteria that all tax avoidance is immoral yadda yadda)0
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