Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Flip

1 2 3

Original poster

dp has made an account in my name to avoid capital gains tax without telling me

72 replies

entiledornot · 14/02/2015 08:10

Dh has made some investments that he wanted to cash out. Without telling me he used a copy of my driving licence to open an account and then transfer 7000 to my account without me knowing. He just says I thought I wouldn't mind and I was out at the time. I knew he had some investments, but no idea they were worth so much.

Aibu to think this just isn't acceptable? Both from doing it in my name and from avoiding tax?

OP posts:

Slutbucket · 14/02/2015 10:38

I sense a shopping trip as compensation for any stress caused.

AutumnDragon · 14/02/2015 10:42

If you think he may have done this before without your knowledge, you can always run off your Credit Report with someone like Experian - I find it best to pay the £2 fee and not go for the free one, as I tend to forget to cancel them before they start charging me a monthly fee.

OneHandFlapping · 14/02/2015 10:47

I think he can open an isa that permits share dealing. Even some personal pensions do.

Then he wouldn't have a CGT issue.

UncleT · 14/02/2015 10:52

Wuthering not specifically your, it's the overall focus of the thread.

Slutbucket · 14/02/2015 11:11

Your Isa's don't show on your credit card as you don't have a credit agreement on them. Obviously it's worrying if he was getting you into debt but actually putting money is ok and savvy. Wish my husband took more responsibility.

Slutbucket · 14/02/2015 11:12

Credit search not credit card.

MrsBojingles · 14/02/2015 11:16

Book yourself on an all expenses paid holiday with the money, leave him at home! :)

AddToBasket · 14/02/2015 11:20

I'm another one who thinks that this isn't tax evasion. However, falsely opening a bank account is fraud. But, that is pretty irrelevant.

OP, enjoy your spending! But you might want to consider being a bit more up to speed on the family finances.

DuchessDisaster · 14/02/2015 11:23

He told you what he was going to do, you didn't register it.
Fair play to him for making a jolly good profit.
Why don't you both sit down and discuss (and agree upon) a strategy for future investments?
Enjoy your "shop" ;-)

prh47bridge · 14/02/2015 11:38

Agree with WutheringTights.

Evasion is illegal. Avoidance is legal (although you might not think it listening to Ed Milliband, who seems to have forgotten his own tax avoidance activities). It is well established in law that you do not have to arrange your affairs in order to maximise the amount of tax you pay.

Opening a share dealing account in the OP's name is not really legal but, since it was for a legitimate purpose, the chances of the authorities taking any interest are negligible.

I don't see the "breach of trust" that UncleT suggests. I see sensible tax planning. No money was taken from the OP, nor has she been placed at any risk. She has been given a nice, tax free gift.

cate16 · 14/02/2015 11:38

Tax avoidance/evasion aside- I haven't a clue whether right or wrong. Due to my complete lack of knowledge/interest in finances matters, my DH would do this, and TBH he would tell me but it would go in one ear and straight out the other. He would make me sign/show my own details if needed though (although quite frankly I wish he'd just get on with it himself if possible). And importantly - he does try and make me more aware, but I'm just not interested.

cozietoesie · 14/02/2015 11:41

prh47

He didn't ask her, that's the thing. Who knows what else he might have been doing with the finances. (And no court would be likely to believe protestations on her part if he was doing anything dodgy and was found out.)

prh47bridge · 14/02/2015 12:04

He didn't ask her, that's the thing

She now says that he did, at least in general terms, but she had forgotten about it.

Who knows what else he might have been doing with the finances

But he didn't so anything else. He acted perfectly legally. Nothing even vaguely dodgy about it that would be of any interest to the authorities. He did not put the OP at risk in any way at all. If he had been doing something dodgy it would be another matter. But he wasn't.

And no court would be likely to believe protestations on her part if he was doing anything dodgy and was found out

That would be for a jury to decide. The prosecution would be required to prove their case "beyond reasonable doubt". Given that this appears to have happened online it would have been pretty easy for the authorities to establish that she was not involved.

ilovesooty · 14/02/2015 12:14

cate16 what will you do if something happens to your husband and you have no knowledge of family finances?

Nomama · 14/02/2015 13:27

And it is not avoidance, either. It is just doing what you are supposed to do with the married couples allowances, no CGT, evasion or avoidance problems.

Just banking to the rules.

Nomama · 14/02/2015 13:30

ILS, I would imagine cate will do what my DH would do, should that ever happen. Grab the bank book I keep with the names of the accounts/banks, the go to the bank and ask them.

He has no idea of what is where. He just knows I scrape every spare penny out of the accounts and put it all somewhere else. He does know where the book is. That keep him happy.

OOAOML · 14/02/2015 13:57

I wouldn't expect my husband to ask me 'in general terms' about this, although in our case it would be more likely to be me doing this (although if we had the cash to be doing this, then I would be talking him through everything, not just opening the account).

And those raising the issue of what to do if something happens to one partner and the other doesn't know financial details are right - I know of one couple where the man died suddenly and his widow had a lot of problems as she didn't know what their financial arrangements were.

UncleT · 14/02/2015 14:15

prh I'm surprised you saw no breach of trust, given that the entire thread stems from the OP coming on here stating clearly that she had no knowledge of and provided no permission for an account being opened in her name by her husband. What's more, until she suddenly decided that she was asked about it but forgot, she sounded surprised and unhappy at the situation. Sure sounded like something was initially done on the sly.

maninawomansworld · 14/02/2015 23:54

He should have told you what he was doing and asked if it was okay so in that respect YANBU.

However so long as what he did was legal then I say go for it, the less of your/his money that ends up in the taxmans coffers the better!

Caterina99 · 15/02/2015 02:48

Tax planning wise. Perfectly legal and sensible.

Opening an account in your wife's name without telling her. Probably not so legal.

Topseyt · 15/02/2015 11:12

If someone opened an account for me and gifted me £7k from it I would be delighted.

Sounds like sensible tax planning to me. It is a tool regularly used in tax planning.

I think you can gift up to £7k a year and it remains tax free provided the person gifting it survives for a minimum of 7 years after making the transaction. Not that I am an expert on tax, but I am all for minimising what has to be paid.

You have been given a great gift. Enjoy it.

fredfredgeorgejnr · 15/02/2015 11:36

Topseyt gifts within a marriage are free of tax regardless

Flip

1 2 3

Swipe left for the next trending thread