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use unemployed partner to avoid paying tax on savings interest?
Comments
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This is a common strategy for couples. Since your partner has no other income, she should be able to utilize her Personal Allowance and the Starting Rate for Savings. It makes much more sense than paying tax on your own interest.
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A way round this is to restrict the account to a provider who only allows online withdrawals, OR withdrawals to a linked account (which can be a sole account AFAIK). Either way, OP must have the consent of the co-holder of the joint account.
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