Untaxed interest on savings and investments

etienneg

dmac22 said:

I have a monthly income from app based investments that supplement my salary but have resulted in a tax recalculation / monies owing in 24/25. Can I redirect the monthly interest payments into my wife's bank account to avoid paying the higher rate 42%  on these earnings ?  My wife works part time so even with this payment her gross earnings would only attract 21% tax ..can this be done ?

No. If the investments are yours then so is the income and the tax liability thereon.

eskbanker

dmac22 said:

I have a monthly income from app based investments that supplement my salary but have resulted in a tax recalculation / monies owing in 24/25. Can I redirect the monthly interest payments into my wife's bank account to avoid paying the higher rate 42%  on these earnings ?  My wife works part time so even with this payment her gross earnings would only attract 21% tax ..can this be done ?

Only by transferring the investments into her name....

flaneurs_lobster

dmac22 said:

I have a monthly income from app based investments that supplement my salary but have resulted in a tax recalculation / monies owing in 24/25. Can I redirect the monthly interest payments into my wife's bank account to avoid paying the higher rate 42%  on these earnings ?  My wife works part time so even with this payment her gross earnings would only attract 21% tax ..can this be done ?

No. You have earned the interest on accounts/monies owned by you. It will be reported as such to HMRC.

You could gift money to your wife who could have savings accounts in her own name that then earn interest.