Interest allocation on joint savings accounts

Reluctantpensioner

Is it possible to allocate savings interest, for tax purpose, in a proportion different from 50:50?
(Obviously relevant only when over £2000.)
How to report? Do you have to if no tax is due?

Example: taxpayer married to non. Interest £3000.
At 50:50, tax is payable on £500.
At 33:67 no tax due.

Dazed_and_confused

Does this article help?

https://www.taxinsider.co.uk/1839-Form_17_How_Does_It_Work.html

And can the taxpayer in your scenario utilise the savings starter rate band, where currently up to £5,000 of interest is taxed at 0%?

Keep_pedalling

Dazed_and_confused wrote: »

Does this article help?

https://www.taxinsider.co.uk/1839-Form_17_How_Does_It_Work.html

And can the taxpayer in your scenario utilise the savings starter rate band, where currently up to £5,000 of interest is taxed at 0%?

According to that link using form 17 for bank accounts would only by justifiable where the major beneficial owner had contributed the majority of the funds. In reality it would be the higher earners who would have contributed the larger share in most cases.

If the OP is talking about interest already received it would be to late anyway.

Surely the simple solution going forward would be to have separate accounts.