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Areej.0910
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In this illustration you said we could transfer £500 interest to the transferee so as to gain the advantage of nill rate band, but I can recall you mentioned earlier that bank deposits are exempt for the option of actual ownership proportion? So in that case 50% should be transferred and not £500?
Areej.0910
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I’m referring to tax planning question illustration 1, kindly reply?
Tax Tutor
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If you refer to the answer it says:
“Clearly in practice choosing the right amount of interest bearing securities and shares to transfer to Donald to allow usage of the available nil rate bands may be a little difficult to precisely achieve!!”
This is nothing to do with jointly owned assets it is transferring actual ownership of sufficient of the investment to generate the required amount of income for the transferee spouse.
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