Personal savings allowance

Elderone

Hi. I need to put 275K into savings for a couple of years, before using it to buy a house, but want easy access to it if situations change. As this would take me above my PSA of £1000. How can I reduce any tax on savings above this please? Or just be generally clever with it? I'm not interested in pension contributions at the moment. I live with my girlfriend but we are not married but are planning to soon. Does not being married mean I can/cannot legally max out an isa and premium bonds for each of us (140K) from this inheritance money from my late parent? Is that even a good plan? I have about 40K left on my current mortgage (fixed for 2 more years) which I'm maxing out on overpayments then plan to pay it off totally when the fixed period ends.  Sorry if this has been asked before and if 8 need to provide any more info but just trying to do the right thing without any more hassle after a bit of a year so any other advice would also be welcome. 

eskbanker

There's nothing to stop both of you using ISAs (another £40K in six weeks' time too) and PBs but she has to do so in her own name, meaning you're either gifting her the money or loaning it, and only you can assess how much of a risk that is (can be mitigated with formally-documented agreement).  If you do go down that route, you might as well take advantage of her PSA too and put some of the taxable money in her name too....