Is it possible to have more than 50k in premium bonds

[Mottie]

Can a household only have £50k?

Of course they can’t you plum but when we bought some more I didn’t say "I've just won and now I’m going to buy another £50k of bonds". There was no mention of any other person in your household buying bonds so stop with the backtracking. Caughtoutagain7.

 

[motorbiking]

Not smart to put money from inheritance in your spouse’s name.

 

[Mottie]

Not smart to put money from inheritance in your spouse’s name.

Gulp. That’s what I plan to do! Mrs Mottie retired a few weeks ago and doesn’t get her NHS or state pension for a few more years. Apart from our savings that are in ISA's, we have other savings, plus the money from the sale of our business premises and in the new year I will have another sizeable chunk when we we sell my mums house. My state pension alone takes me over the threshold and I have to sit down and do some calculations yet but plan to put a fair chunk of it in her name in an interest paying account and use her tax free allowance to avoid paying tax on the interest which should save us a fair bit. Any better suggestions?

 

[carmanmemoranda]

Gulp. That’s what I plan to do! Mrs Mottie retired a few weeks ago and doesn’t get her NHS or state pension for a few more years. Apart from our savings that are in ISA's, we have other savings, plus the money from the sale of our business premises and in the new year I will have another sizeable chunk when we we sell my mums house. My state pension alone takes me over the threshold and I have to sit down and do some calculations yet but plan to put a fair chunk of it in her name in an interest paying account and use her tax free allowance to avoid paying tax on the interest which should save us a fair bit. Any better suggestions?

I think you've been married long enough not to have any real concerns

Plus it was HER mum's money anyway , not yours directly.

 

[Notch7]

Of course they can’t you plum but when we bought some more I didn’t say "I've just won and now I’m going to buy another £50k of bonds". There was no mention of any other person in your household buying bonds so stop with the backtracking. Caughtoutagain7.

Mottie admits he is wrong

 

[noseall]

You’d have to explain how you won, £50 on this draw and were able to add £50k this month to count in next month’s draw without having held them for a minimum of 1 calendar month and also transferred them out at the same time

But given you pay f/all tax you’d be better opening a Chase account.

Can his wife not have had PBs ?

 

[fillyboy]

Gulp. That’s what I plan to do! Mrs Mottie retired a few weeks ago and doesn’t get her NHS or state pension for a few more years. Apart from our savings that are in ISA's, we have other savings, plus the money from the sale of our business premises and in the new year I will have another sizeable chunk when we we sell my mums house. My state pension alone takes me over the threshold and I have to sit down and do some calculations yet but plan to put a fair chunk of it in her name in an interest paying account and use her tax free allowance to avoid paying tax on the interest which should save us a fair bit. Any better suggestions?

How's she enjoying retirement?.

 

[carmanmemoranda]

Can his wife not have had PBs ?

No, not unless you use the correct grammatical sense .

I look after the finances for me and wife. We both have separate accounts at various places. It's all our money regardless of who's name it's in

 

[Notch7]

It's all our money regardless of who's name it's in

totally agree

 

[noseall]

No, not unless you use the correct grammatical sense .

Not sure I follow. Are you saying it’s £50k per household?
It’s not unusual for the home breadwinner to move their money around the household, in order to get favourable returns.

Of course they can’t you plum but when we bought some more I didn’t say "I've just won and now I’m going to buy another £50k of bonds". There was no mention of any other person in your household buying bonds so stop with the backtracking. Caughtoutagain7.

Sounds like you’re clutching at straws Mottie.

 

[blup]

Gulp. That’s what I plan to do! Mrs Mottie retired a few weeks ago and doesn’t get her NHS or state pension for a few more years. Apart from our savings that are in ISA's, we have other savings, plus the money from the sale of our business premises and in the new year I will have another sizeable chunk when we we sell my mums house. My state pension alone takes me over the threshold and I have to sit down and do some calculations yet but plan to put a fair chunk of it in her name in an interest paying account and use her tax free allowance to avoid paying tax on the interest which should save us a fair bit. Any better suggestions?

Unless she's planning to divorce you I wouldn't worry. The alternative is setting up complex tax trusts or giving it to the kids and surviving seven years. Enjoy the increased odds of winning is my suggestion.

 

[noseall]

Mottie admits he is wrong

Apart from the fact it’s none of their business, if your wife’s account won you £50 on your behalf, well done you!
It’s the same jealousy they had when JD saw what was happening with Brexit and invested more wisely than them.

 

[carmanmemoranda]

Not sure I follow.

Mine, hers, ours etc. Can all mean the same depending on the context

Are you saying it’s £50k per household?

No

It’s not unusual for the home breadwinner to move their money around the household, in order to get favourable returns.

Totally agree

Sounds like you’re clutching at straws Mottie.

I agree

 

[pete01]

No its not possible

 

[Mottie]

How's she enjoying retirement?.

Busy busy busy!