So, marriage

[mattyg]

Aren't prize winnings tax free..?

To her yes. But then she gave me some of it. Well paid my credit cards directly from her account.

 

[Minibiker]

Been together 13 years and married 10 years, 2 kids and I've also lost all my hair

 

[Uther]

We were together 36 years, married for 31.

 

[TBirdUK]

Been married twice, 2 years and 8 years, both were not to be, I wont be doing it again as I have 2 great kids and cant afford the time for even a relationship or the cost of another divorce!

 

[t2na]

Together for 10, married for 5!

 

[doodah]

Congratulations!

Currently 6 years with my first wife.

 

[t2na]

Congratulations!

Currently 6 years with my first wife.

How long are you planning with the second wife?

 

[Zefan]

To her yes. But then she gave me some of it. Well paid my credit cards directly from her account.

How is tax involved here?

 

[Hades]

Together 33 years and married for 25 years.

 

[mattyfez]

Pointless until prenuptials are a legally binding thing.
I've seen too many people taken to the cleaners after a messy divorce.

I'd happily have a spiritual ceremony/declaration of love /big party or whatever, but I'm not signing my rights away.

 

[Josh]

Married 20 years next year. Not bad for a 39 year old…

 

[mattyg]

How is tax involved here?

I'm thinking this..

How much money can you gift to a friend tax-free in the UK?


£3,000

Known as the annual exemption, this allowance lets you gift up to £3,000 each tax year tax-free. You can either give this amount to one person or split it among multiple recipients. If you don't use the exemption one year, it can carry over to the next, allowing for a maximum of £6,000 in tax-free gifts.


But looks like if she lives longer than 7 years all is good.

 

[Vonhelmet]

For example. My Mrs won a car on a competition. We sold it for £106k and paid a chunk of debts off. Including my personal credit cards... Were going to have to record that and pay tax on the Gift. Unless we can all it a loan
Had we been married then it would have been cheaper. Both Higher rate payers

Unless i'm out of touch

Who told you you’d have to pay tax on that? Unless she died within 7 years and had an estate in excess of the IHT nil rate band there would never be any tax to pay on that.

And I am a tax expert.

 

[mattyfez]

Who told you you’d have to pay tax on that? Unless she died within 7 years and had an estate in excess of the IHT nil rate band there would never be any tax to pay on that.

And I am a tax expert.

Yeah that sounds off... Competition prizes are usually tax exempt, like lottery winnings or gambling winnings.

 

[mattyg]

Yeah that sounds off... Competition prizes are usually tax exempt, like lottery winnings or gambling winnings.

I didn't win. She did and were not married.

 

[mattyg]

Who told you you’d have to pay tax on that? Unless she died within 7 years and had an estate in excess of the IHT nil rate band there would never be any tax to pay on that.

And I am a tax expert.

So why is there a Gift limit of £3k Per year, Why is there a limit at all..

 

[mattyfez]

So why is there a Gift limit of £3k Per year, Why is there a limit at all..

In reality it's a moot point unless the gifter dies and it becomes a consideration for IHT, and only then if the estate is over the IHT threshold after allowances and discounts.

 

[BUDFORCE]

Since 2008, however long that is.

 

[Stoddy]

Together for 38 years, married for 28 years

 

[Hagar]

Forty three years.