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badger09

10_66 wrote: »

Unless things have changed, you can register your R85 so that half of the interest will be tax free, tax will be paid on the other half.

Only basic rate tax will be deducted from 'the other half' so OP's husband would have to declare his share of the interest on his SA tax return. If he doesn't need to file a SA tax return, he can simply write to his tax office giving details of his share of the interest.

Mr._H_2

Middle_Sister wrote: »

I have a Santander 123 account and am a non tax payer. I am looking at places to put my Lloyds Vantage money after 2nd July. If we open a joint San 123 how does it work with tax as my husband is a higher rate taxpayer?

Don't forget to max out on Club Lloyds and TSB Plus accounts first. And if you don't already have a First Direct current account, they'll give you £100 for switching and you'll get access to a 6% regular saver.

Mr._H_2

Middle_Sister wrote: »

Yes I'm waiting till 2nd July for the Club Lloyds

Why? Club Lloyds pays higher interest than Vantage.

Middle_Sister wrote: »

then I am going to open 2 TSB Plus accounts.

Again, why wait? TSB Plus also pays higher interest

Middle_Sister wrote: »

Re the First Direct current account - do you have to move any direct debits and pay in a lump sum a month?

Not sure about direct debits but you do need to pay in £1500 a month to avoid their account fee.

Middle_Sister wrote: »

Also going to look at the Halifax Reward.

If you don't already have a Halifax account they are also offering a £100 switch incentive. Assuming you have at least three Vantage accounts you could switch one of them to First Direct, another to Halifax, and convert the third into a Club account.

In terms of switch incentives check the conditions carefully. It is likely that the account you are switching from must already have, say, 2 direct debits or standing orders set up, which will then be moved as part of the switch. Savings accounts with Tesco are the easiest way to fulfil any direct debit requirements.

innovate

Mr._H wrote: »

Not sure about direct debits but you do need to pay in £1500 a month to avoid their account fee

You don't need any DDs, and you don't need to pay in £1,500 a month to avoid their fees. Just open a normal savings account with them and keep £1 in it.

Steve_xx

Mum's opened a Classic Plus TSB account. She wants to open a secondary one but trying to obtain one from the online link wont play ball. Will she have to go into a branch or maybe go through the full procedure online again?

Mee

innovate wrote: »

You don't need any DDs, and you don't need to pay in £1,500 a month to avoid their fees. Just open a normal savings account with them and keep £1 in it.

Apologies if I've misunderstood, but are you sure about Club Lloyds and DDs?
According to the website:
Earn variable tiered credit interest on balances between £1 and £5,000 when you pay at least 2 different direct debits from your account each calendar month.

badger09

Steve_xx wrote: »

Mum's opened a Classic Plus TSB account. She wants to open a secondary one but trying to obtain one from the online link wont play ball. Will she have to go into a branch or maybe go through the full procedure online again?

When did she open the first one? Is it funded?

Other posters have reported a similar problem on the thread dedicated to this account. I think a work around is to apply for the second account when logged out.

https://forums.moneysavingexpert.com/discussion/4919532

post 993 onwards, though I'm sure there were earlier ones if you feel like trawling through 50+ pages

badger09

Mee wrote: »

Apologies if I've misunderstood, but are you sure about Club Lloyds and DDs?
According to the website:
Earn variable tiered credit interest on balances between £1 and £5,000 when you pay at least 2 different direct debits from your account each calendar month.

Both innovate, and Mr H who innovate quoted, were referring here to the First Direct Current account - not Club Lloyds

Steve_xx

badger09 wrote: »

When did she open the first one? Is it funded?

Other posters have reported a similar problem on the thread dedicated to this account. I think a work around is to apply for the second account when logged out.

https://forums.moneysavingexpert.com/discussion/4919532

post 993 onwards, though I'm sure there were earlier ones if you feel like trawling through 50+ pages

Opened a couple of weeks ago but only funded yesterday. It was a palava getting logged on. When she applied for it she gave an ID and password but when she tried it, it didn't like it so she had to go through the process of resetting it.

sabretoothtigger

TSB not paid any interest, anyone else got theres?

I thought it just needed funding 1k or so every month and thats it