My wife is currently not working. If I open a joint investment account (shares, bonds, and derivatives) with her, is it possible to tell the Taxman that the investments there really belong tho her only? Or does each of us have to pay taxes on 50% on the investments? In that case we would open the account in her name only. Thanks.
If the account is joint, then you are both jointly liable for the tax. You'd need to open an account in her name only.
Regards, A.
Bitstring , from the wonderful person Marc said
You can in theory tell them, however they may not believe you!!
It's much simpler (assuming you trust her) to just put them in her name. However that way you don't have double helping of CGT to use, which may be more important than income tax on 50% of the income (given she can't get tax back on dividend tax credits anyway these days). She can always transfer them to you when it's time to sell though, if you remember to do so.
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