tax on savings

Hi. We are in the fortunate position that due to inheritance we have around 140k of savings. Currently we have 100k in premium bonds and the rest in santander 123 account. As interest rates have risen, I know we should really move to a better higher rate account. We are thinking of putting 130k in a fixed rate for probably 18mnths or 2 years as we have seen a 4.65 rate and the rest in an easy access account. My question is if I have worked it out right the interest will be around 5k per year. As my Wife is registered self-employed (cake maker) but the last few years has barely earned £1k a year so is not currently paying any tax, if we put the savings in her name would we not pay tax on the interest? many thanks

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