giving money to a spouse

Risk_averse_dinosaur

I do not currently have to fill in a tax return but as I understand it from April next year I will have to fill in a tax return if I receive over £1000 in interest on my savings. Can I legally avoid this by putting some of my savings in my spouses name?

marleyboy

If I could earn a grand in interest alone, I would not be worried about the few coppers I might save by such a method.

SeniorSam

Yes. You can give as much as you wish to your spouse at anytime.

Those who value every penny of interest are those who appreciate how hard it is to come by.

kidmugsy

Risk_averse_dinosaur wrote: »

putting some of my savings in my spouses name?

As the title of your post so wisely implies, the commonly said "putting in my wife's name" muddies the waters. You would be gifting the money to your wife. Very prudent too: saving both pennies and hassle is a double whammy.