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  • FIRST POST
    • Gnittih
    • By Gnittih 10th Oct 17, 7:11 PM
    • 39Posts
    • 0Thanks
    Gnittih
    Gifts from Income
    • #1
    • 10th Oct 17, 7:11 PM
    Gifts from Income 10th Oct 17 at 7:11 PM
    If I make monthly contributions into JISAs from a joint bank account into which my retirement income is paid,how do I ensure that contributions are attributed to me (for HMRC acceptability)and not my wife who is the other joint owner of the bank account.

    Is it sufficient that I sign the investment application form at the same time as thr Direct Debit authorisation referring to the joint bank account?
Page 2
    • Linton
    • By Linton 11th Oct 17, 11:27 AM
    • 8,610 Posts
    • 8,569 Thanks
    Linton
    Would all the following be classed as Income?....that I can use to calculate against expenditure.

    Occ.Pension
    State Pension
    Annuity payments
    Cash ISA gross interest...reinvested
    Equity ISA gross dividends...reinvested
    Originally posted by Gnittih
    Occ Pension, SP and annuities are certainly Income.

    Interest and dividends paid into your bank account for expenditure/gifting is income.

    If you reinvested money from Inc funds within the ISA mmm perhaps HMRC could argue that they never became income if the cash was paid into the ISA. Interest/dividends from Acc funds even more mmmmm. As far as I can see the various web links dont make this clear, perhaps it wont be clear until there has been a test case.
    • dales1
    • By dales1 11th Oct 17, 12:04 PM
    • 29 Posts
    • 24 Thanks
    dales1
    I have always treated ISA interest and dividends as income on my own personal IHT403 forms.
    (These items would be taxable as income, except for the fact that they arise inside an ISA wrapper).
    • Eco Miser
    • By Eco Miser 11th Oct 17, 12:34 PM
    • 3,220 Posts
    • 2,981 Thanks
    Eco Miser
    Occ Pension, SP and annuities are certainly Income.
    Originally posted by Linton
    According to the link in post 20, annuities are partially repayment of capital.
    Eco Miser
    Saving money for well over half a century
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