BrummieDave wrote:Wasn't aware of all that - so a joint share trading account providing dividend income could provide up to £10k tax free (ie £5k each)? And upon the death of the first named the dividend income will continue to flow but anything over £5k becomes taxable?
All as it would be in two single named accounts, but without the hassle of transferring the assets upon the first death.
Have I understood that correctly please?
Yes, as far as I am aware that is correct.
You're really benefiting from two different things there. The first is the joint account, which in your case is with your spouse but it could be with any beneficiary. And the second is that we have separate taxation for married people, enabling a couple to double their allowances.