Wife non tax payer, joint saving = no tax???

zygurat789

dzug1 wrote: »

I hope that's shorthand for you could persuade your wife to open an account and make you a signatory on it

You can't open an account in someone else's name

In English the personal pronouns are not very specific unlike French where the singular would be tu and the plural vous.
In this case the you is plural, I would have thought that was obvious from the context.

a&akay

Gambler wrote: »

I was wondering the same about the santander 123 account offering 3% interest. My partner is a non tax payer where as I pay 40%. How would it work?

If you're converting to a 123 from an existing joint account you both need separate access to your new 123 account. Your partner registers for gross on the 123 on her log in. No need for R85. They tax you on half of any interest. You need to declare interest on your tax return as you would have paid 20% not 40%. Easier to take yourself off the joint account. You need proof of who you are, passports are easiest, proof of address and a 123 statement. Take them to a branch together. You both need to register for non paperless to get the statement. If one says paperless then it won't be posted.

If you want the 123 for the DD payments and interest and it's a new application then just apply in your partner's name. Pay all your joint DDs from it that count, gas water electric Sky and Council Tax etc . Any interest will be gross, if registered for it online.

Our Council Tax alone pays the £2 monthly fee.