Joint accounts treated are you treated as two separate people when paying?

RachaelwithanE

Sorry a bit of a silly one but always meant to check.

Say there's a one person only deal and my boyfriend pays with his card using the joint account can I then use my card to use the offer as well? Also could we each have an ebay account using the joint account?

And what happens if one of us goes up a tax bracket or down? How does the bank calculate the interest?

Thank you so much!

agrinnall

I can answer the last part: banks only ever withhold basic rate tax on interest, if you are in a higher rate band you need to pay the extra tax yourself, usually by entering Self Assessment.

System

One the ebay front I believe that bank accounts need to be unique (may be Paypal, not sure) so you wouldn't be able to use it as it is already allocated

I know that I had to delete one of the joint bank accounts from my account because wife couldn't associate it on her account because it was already allocated.

grumbler

RachaelwithanE wrote: »

Say there's a one person only deal and my boyfriend pays with his card using the joint account can I then use my card to use the offer as well?

Offer from whom? The bank or the retailer? If the retailer then you have to check how they define 'person'. Also, lung numbers of debit cards for a joint accounts are usually not identical.

Also could we each have an ebay account using the joint account?

I am pretty sure you can - as you can prove that you a the account holder.

agrinnall wrote: »

I can answer the last part: banks only ever withhold basic rate tax on interest,...

They also withhold 0%. If one of account holders becomes a non-taxpayer and submits the relevant form, bank withholds 10% instead of 20%.

RachaelwithanE

The long card number is different but the account and sort codes are different. Hypothetically the retailer. For example Graze gives you a certain amount off your first offer could we both use the offer with our joint account?

JuicyJesus

RachaelwithanE wrote: »

The long card number is different but the account and sort codes are different. Hypothetically the retailer. For example Graze gives you a certain amount off your first offer could we both use the offer with our joint account?

Probably, yes. The company won't know it's the same bank account, as the only information you give them is the card number.

Archi_Bald

RachaelwithanE wrote: »

Also could we each have an ebay account using the joint account?

eBay doesn't ask for your bank account details. Paypal does, and I don't believe two different Payapl accounts can use the same bank account. Also, a Paypal account can only be used with one eBay account afaik.

RachaelwithanE wrote: »

Hypothetically the retailer. For example Graze gives you a certain amount off your first offer could we both use the offer with our joint account?

Hypothetically? What about realistically? You need to read the terms and conditions of the individual offers. I have never seen any that stipulate that the offer only applies to one bank account. More likely it's terms like "one per household", i.e. one per same address.

agrinnall

grumbler wrote: »

They also withhold 0%. If one of account holders becomes a non-taxpayer and submits the relevant form, bank withholds 10% instead of 20%.

Both true, but the amount withheld is always 20% of the taxable interest, and will never be more (well, not until a government becomes desperate for money and raises the basic rate again).