‘Er indoors wants to know if she’ll pay tax.

Laurence_Harvey · 18 July 2018 at 10:24AM

Hi to all;…1st post and all that so go easy on me.

My wife has savings investments and a part-time job; her income this year will be in the region of £15,000, consisting of £10k from her employment and £5k (gross) from savings account interest.

Will she be liable for any income tax?

Thank you in anticipation of your replies.

eskbanker · 18 July 2018 at 11:17AM

No income tax liability as the fact that her employment income is below the personal allowance of £11,850 means that she can benefit from the full £5,000 starting rate for savings. See https://www.gov.uk/apply-tax-free-interest-on-savings

Laurence_Harvey · 18 July 2018 at 11:44AM

Thanks so much for the reply/link eskbanker;….greatly appreciated.:T

‘Er indoors wants to know if she’ll pay tax.

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