Tax on Joint savings Account

martynhall1

I have a joint savings account with my wife, we are both retired. I am a 20% taxpayer from pension income, and my wife is a non-tax payer. I believe my tax free allowance on interest is £1000 per year

Could you advise on total tax free amount on savings interest that we can claim annually as a couple?

Dazed_and_C0nfused

martynhall1 said:

I have a joint savings account with my wife, we are both retired. I am a 20% taxpayer from pension income, and my wife is a non-tax payer. I believe my tax free allowance on interest is £1000 per year

Could you advise on total tax free amount on savings interest that we can claim annually as a couple?

There is no "allowance" for interest.  As a basic rate payer upto £5,999 of your interest could potentially be taxed at 0% though.

Roughly how much of your pension/earnings/ self employment profits/rental income etc do you pay basic rate tax on?

There is no amount for a couple.

Has your wife applied for Marriage Allowance?

What non savings non dividend income does she have (things like pension/earnings/self employment profits/rental income etc).

chrisbur

No one can tell you that without full details of taxable income and tax codes.  The following link will enable you to work out the allowance you each have.
https://www.gov.uk/apply-tax-free-interest-on-savings