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Self assessment joint account question
stowupland4
Posts: 36 Forumite
in Cutting tax
I have a TSB joint account with my daughter. Neither of us pay tax, so interest is paid gross.
I fill out a self assessment form, my daughter doesn't.
Do I just put half the interest earned onto my self assessment form.
I refer to 2015/16 year.
I fill out a self assessment form, my daughter doesn't.
Do I just put half the interest earned onto my self assessment form.
I refer to 2015/16 year.
0
Comments
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stowupland4 wrote: »I have a TSB joint account with my daughter. Neither of us pay tax, so interest is paid gross.
I fill out a self assessment form, my daughter doesn't.
Do I just put half the interest earned onto my self assessment form.
I refer to 2015/16 year.
If neither of you pay tax then whatever figure you enter then it really doesn't matter. I would, in your case, just put the whole figure on the form. They can't then say you under declared.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
You should actually be declaring only your half of the interest. The real question is, if neither of you are taxpayers, why you are obliged to fill in tax returns in the first place.0
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[Deleted User] wrote:You should actually be declaring only your half of the interest. The real question is, if neither of you are taxpayers, why you are obliged to fill in tax returns in the first place.
I do not pay tax but as I own a BTL property I am obliged to report my profits.:footie: Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
:) This discussion has been closed.
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