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Original poster

Can my husband find out about my hidden savings?

73 replies

Healthkick9 · 01/02/2020 12:27

I have substantial savings in bank accounts and funds that my husband is not aware of. The reasons for the secrecy are aside from the fact that he handles money poorly and would go wild if he knew about these amounts, he is also abusive. (Not quite physical, but emotionally, verbally, throwing things etc). I don't intend to leave, but I know it is not in my best interests to have him know about this money.

He is self employed and has his own business. I know that he has to fill out all kinds of things for the HMRC, and I am concerned that there may be some kind of request from them in relation to any interest earned on my savings? I am not listed on his business at all, but I don't know if they do ask for things like this? We have one joint bank account with minimal money in.

I know trust is everything in a marriage, and I would never have envisioned lying to my husband. But unfortunately he lies to me and hides things from me all the time, and so now I have to think with my head rather than my heart.

OP posts:

Barbarella1 · 01/02/2020 12:31

If you’ve nothing to do with the business you’re ok.

T0tallyFuckedUpFamily · 01/02/2020 12:36

I don’t understand why you want to stay with an abusive are whole who would critter away your money, if he found out about it? I think all women should have ‘runaway’ savings and I don’t care if that sounds sexist. It’s most often the woman that is crewed over in a split, with the children to look after, so good for you. Be really careful where you are keeping your bank card and make sure he can’t get access to whatever device you have your banking details on. Do you have children?

T0tallyFuckedUpFamily · 01/02/2020 12:37

an abusive are whole who would critter

An abusive arsehole who would fritter..

MyuMe · 01/02/2020 12:39

If you have substantial savings...leave him.

otterhound · 01/02/2020 13:07

Depends how much you have.
Bank accounts generally don't deduct tax from the interest but if the interest and any other earnings you have are below your personal allowance there is no tax to pay so no need to file a tax return.

If you open a cash or investment isa then you no have no problems at all.

If you are receiving at lot of interest which you have to pay tax on then you need to file a tax return -

Hopoindown31 · 01/02/2020 13:09

If you are going to divorce then hiding assets is a very bad strategy as it will be looked on poorly by the court.

otterhound · 01/02/2020 13:09

And no, if you are not involved in his business hmrc will not be interested in your savings (as far as his tax return goes)

TheDeep · 01/02/2020 13:12

If you ever divorce then you'd be in deep trouble for hiding assets.

boatyIII · 01/02/2020 13:12

If you leave him and get divorced you'll have to hand over a big chunk of your savings. Hiding money/assets during divorce proceedings is a big no-no.

otterhound · 01/02/2020 13:12

Hop,

Hiding them to exclude them from a financial settle is one thing. Using them as an escape fund is another as long as the op is honest about having the money.

DonnaDarko · 01/02/2020 13:13

Just leave him. I don't understand why you want to stay with someone who is abusive and shit with money.

Also, the longer you're with him, surely the more of a claim he will have on those savings if you divorce.

boatyIII · 01/02/2020 13:14

@otterhound the starting point in any divorce is 50:50 of all cash and assets, so while OP might have some money to set herself up after leaving him, she won't have it all.

userxx · 01/02/2020 13:16

Why don't you intend to leave?

Opentooffers · 01/02/2020 13:21

Leave, but maybe no nee to divorce? Just an idea

edwinbear · 01/02/2020 13:22

HMRC are not concerned about your personal savings in relation to his tax return on his business assuming you are not connected to it. Don’t worry OP, I also think you sound very sensible to have built up this pot

T0tallyFuckedUpFamily · 01/02/2020 13:26

the starting point in any divorce is 50:50 of all cash and assets, so while OP might have some money to set herself up after leaving him, she won't have it all.

At the end of the day, she will still have some money. Whereas, if he finds out about her savings, the prick will take the lot. She’s doing the right thing, at this stage, keeping it secret.

FinallyHere · 01/02/2020 13:28

Check your allowances for earning interest / dividends incase you are earning in excess of the allowances and have to do a tax return.

Does anyone know about these accounts? What would happen if you were to die or become very ill? Accidents can happen. Do you have a will in place?

FizzyGreenWater · 01/02/2020 13:29

If you do think there is a chance you will eventually divorce, and you have someone you trust implicitly (parent?) then I would think about giving the money to them for safekeeping/putting in their name. And as soon as possible. But only if you trust them with your life!

BlouseAndSkirt · 01/02/2020 13:39

If you are going to divorce then hiding assets is a very bad strategy as it will be looked on poorly by the court
If you ever divorce then you'd be in deep trouble for hiding assets

Can people be precise here? This is true once divorce proceedings start. The OP will NOT be in big trouble to use money to leave and to then declare it as part of the divorce.

OP, this is the cliched suggestion on these threads but have you looked at the online Freedom Programme? It really helped a friend of mine.

At the moment you live with abuse and also the fear that he might discover and take away your means of escape from abuse.

This is a lot of pressure.

Where did the money come from? Was it a gift, win or inheritance to you, or have you been canny making savings from regular income?

I wish you strength and luck, no one deserved to live with abuse.

BillieEilish · 01/02/2020 13:46

If you're married and divorce, I thought you had to declare the lot?

Hope so, my DH has stashed away loads!

wizzywig · 01/02/2020 13:48

How much is 'substantial'?

lljkk · 01/02/2020 13:48

How much is substantial & if it's quite substantial then you should leave imho.

T0tallyFuckedUpFamily · 01/02/2020 13:57

Hope so, my DH has stashed away loads!

How do you know about that and why has he done that?

leckford · 01/02/2020 13:57

Interest rates are so low that unless you have millions you are unlikely to get enough interest to be taxed.

BillieEilish · 01/02/2020 14:03

I know becsuea I found half a million in share in a Canadian bank account.

He doesn't know I know.

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