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Joint Account interest allocation
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knittingnanny1102
Posts: 28 Forumite
in Cutting tax
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
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Comments
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Not unless you are married or are civil partners.0
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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 HMRC0
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