Joint Account interest allocation

knittingnanny1102

Does the interest on a joint account have to be declared as 50 50 for tax purposes or are you able to allocate it on a different proportion.  It looks like I may be over my saving allowance but not my partner.  I am just trying to save a little tax 

Ferro

Not unless you are married or are civil partners. 

knittingnanny1102

we are not married so can allocated the interest as we choose??  Do you need to fill out any paperwork for tax purposes or just explain if questioned by HMRC 

Jeremy535897

https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim2420