Santander 123 - Joint account?

RickMoney

Hi,

I've search on the forums here and I understand that it is possible to open a 123 account in joint names (for our household bills).

I am a self assessment tax payer in the 40% bracket. My wife is not on SE but is around the 40% mark (depending on bonuses).

Is it simpler for accounting purposes to open the account in my name alone - can you get a second card on the account that my wife could use?

If it was joint, would I just declare half the interest on my forms?

For info, we have a sum of money to fill the £20k that will gradually decrease as used for a project.

Thanks,


Rick

dzug1

AFAIK to get a second card it has to be a joint account

You would declare 50% of the interest on your tax return, as would your wife if relevant

grumbler

RickMoney wrote: »

... can you get a second card on the account that my wife could use?

Definitely not, but why is it needed if the account is for bills only?

RickMoney

Hi, thanks for the clarification. It looks like it will need to be a joint account then.

The 2nd card just makes it easier if she wants to buy something for the house and we have surplus money in the account. Saves needing to transfer money around after etc.

Thanks again,

Regards,

Rick

grumbler

RickMoney wrote: »

The 2nd card just makes it easier if she wants to buy something for the house

A credit card with a second cardholder will do this job better* and will probably pay you cashback.

*ETA: this excludes cash and some stores, e.g. Aldi.

RickMoney

Hi Grumbler,

Yeah, I have an Amex with that at the moment that we use for common shopping. She uses the other where Amex isn't taken.

No worries, thanks for the reply.

Regards,

Rick