Can I give/share my yearly tax allowance with my husband?

littlejaffa

Can I give/share my yearly tax allowance with my husband?
we are paying tax on joint accounts, but i don't work/claim benifits etc - so can we use my allowance somehow?

can you point me to site that might help i've no idea where to start

thanks
xx

CLAPTON

you can't transfer your tax allowace to your partner.

your alterantives are :

a. for joint a/c the HMRC will allow the splitting of interest so half is paid gross and half subject to tax.

However, you need to ask the savings bank/B Soc whether they will allow it.
If they dont then you can claim your share of the tax back at the end of the year (you need form R40).

b. however the easiest way is simply put the savings into a a/c soling in your name and you fill in a R85 so interest is paid gross.