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Saving as a non tax payer
bertieboodle
Posts: 3 Newbie
I've never done any saving, just paying off the mortgage. Hubby is a higher rate tax payer and I don't earn enough to pay tax. All our cash is held jointly. Why would he get a NISA if I could get a better rate with a savings account and pay no tax? Or does it not work like that?
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Comments
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I don't know - why would he get a NISA?
Can you get a better rate in a savings account? You certainly can in a current account. He can probably get a better rate in a current account - though not on a large amount. You can also get joint current accounts, so six TSBs between you, and each pay (or not) tax on half the interest at your individual rates.
The above is about cash NISAs, S&S NISAs make more sense for a higher rate payer.Eco Miser
Saving money for well over half a century0
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