Where else can I save??

fidaa

frugalmacdugal said:

Hi,

it's not earnings.

really why is this?

fidaa

jimjames said:

You've mentioned in the post that you've maxed out savings but if you have that amount of savings do you need to still keep putting more money into cash. Investments like S&S ISA might be worth looking into once you have sufficient cash savings for your needs.

S&S seems risky?

gift option to spouse seems more appropriate

r6mile

It's not earnings or income because it's a gift - it doesn't derive from employment, dividends, interest, etc.

In summary: you can give your wife as much money as you like. If your finances are joint, using her ISA allowance (whether a cash or S&S is down to your risk appetite really) seems the most sensible.

fidaa

r6mile said:

It's not earnings or income because it's a gift - it doesn't derive from employment, dividends, interest, etc.

In summary: you can give your wife as much money as you like. If your finances are joint, using her ISA allowance (whether a cash or S&S is down to your risk appetite really) seems the most sensible.

thank you for confirming.

what do you mean if finances are joint? she has separate bank account where I plan to gift the money to?

Secondly she is a permanent resident of UK but not a UK citizen, is this ok

[Deleted User]

Hi,

fidaa said:

frugalmacdugal said:

Hi,

it's not earnings.

really why is this?

because it's a gift, like a birthday present a Christmas present.

fidaa said,

what do you mean if finances are joint? she has separate bank account where I plan to gift the money to?

Secondly she is a permanent resident of UK but not a UK citizen, is this ok

that's fine just make a transfer or write a cheque.

Are you legally married under UK law?