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Cherylekatz

MX5huggy said:

What are you going to do if his half wins £10m? Expect him to gift it back? 

I think you are overthinking it maybe you keep your finances completely separate, my PB purchases come from our joint account which we both pay our full salary into. They are “our” PB’s that happen to be in my name because they can’t be held jointly and having 2 accounts would be complicated, if I wanted to hold more than £50k I would open an account for Mrs MX5.

MX5huggy said:

What are you going to do if his half wins £10m? Expect him to gift it back? 

I think you are overthinking it maybe you keep your finances completely separate, my PB purchases come from our joint account which we both pay our full salary into. They are “our” PB’s that happen to be in my name because they can’t be held jointly and having 2 accounts would be complicated, if I wanted to hold more than £50k I would open an account for Mrs MX5.

10M on PB would be wonderful but extremely unlikely given the odds. Whatever he won would be ours as a couple as with our other assets, though I understand of course the law in relation to this. I’m purely curious about the personal tax implications on ‘gifting’ my husband as this is the only way to invest more than 50k in PB’s. 

As a married couple what we have between us counts for any inheritance tax (hopefully a long time off) or should we divorce (unlikely but you can never say never) all of these things would be taken into account. 

I will take professional advice as usual before any investment but thought someone might have a quick, Simone answer to my question regarding tax. 

Thanks for your thoughts on other angles but they are things we have discussed and have covered in relation to other investments. 

Cherylekatz

Simone = simple 

MX5huggy

There are no tax implications, no income tax is ever due of gifts, inheritance tax is not an issue between spouses. Fill your boots (well his PB account any way).