What is limit she can earn in interest from her savings without paying tax?
2006-12-18 04:25:26 · 7 answers · asked by spike 5 in Business & Finance ➔ Taxes ➔ United Kingdom
Assuming she is under 65 and has no other income it is £5,035 in the current tax year
2006-12-18 04:34:57 · answer #1 · answered by Anonymous · 1⤊ 0⤋
His wife may well be a stay at home mother. So before anyone jumps to the conclusion that she is a lazy *****, consider all possibilities. As far as the question goes, in my home state you can get any amount of interest without paying tax.
2006-12-18 04:29:29 · answer #2 · answered by Lachelle 3 · 0⤊ 0⤋
Steve has given the correct answer of £5,035. I just wanted to add that although 20% tax is usually deducted from bank and building society interest she can apply to have it paid gross.
I think the form she needs is R85 but the bank should be able to provide this.
2006-12-18 19:51:02 · answer #3 · answered by tringyokel 6 · 0⤊ 0⤋
depends on her tax code. but assuming she has no "perks" to bring it down then it will be in excess of £4,000 and if she is getting that much you should e taking the advice of an accountant not a bunch of yahoo geeks :)
2006-12-18 04:29:15 · answer #4 · answered by alatoruk 5 · 1⤊ 0⤋
she should go get a job and start paying tax then dont u think
2006-12-18 04:27:20 · answer #5 · answered by loopy_loo 2 · 0⤊ 3⤋
send her down the noodle mines.
2006-12-18 04:27:35 · answer #6 · answered by dooglepuff 3 · 0⤊ 1⤋
your wife is a lazy bum
2006-12-18 04:27:42 · answer #7 · answered by MONEY 1 · 0⤊ 5⤋