tax

[oilyjo]

dont understand answer rollo .my wife recently died and the money from her bank account will be transfered to mine . will i be taxed on it.

[Buenchico]

Rollo's answer only applies to money transfers prior to death, and where inheritance tax is applicable (which doesn't apply to transfers between spouses anyway)

Neither of those circumstances apply to you. The simple, straightforward answer to your question is that no tax is payable.

Chris

[factor-fiction]

I'm not sure what the outstanding query is. There is no tax to pay in these circumstances on the money transferred. However you may be liable to pay tax on any interest you earn on the money.