IAmJustAsking
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Transferring savings to spouse to reduce interest tax liability
I am considering transferring some funds from my personal savings account to my wife’s, as this would allow us to use her Personal Savings Allowance and her lower personal tax rate. The origin of savings is my income. We intend to use this money within the next few years as a deposit for a house that we will jointly own. Would doing so cause any potential tax issues I should be aware of?