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Posted Tue, 07 Mar 2023 00:05:11 GMT by BHL
My wife and I are both UK tax residents. Last year I transferred a lump sum via bank transfer to my wife and with this gift amount she has generated some bank interest income. Should this generated income reported in her tax return, or instead, reported in mine? Thank you.
Posted Wed, 08 Mar 2023 17:03:45 GMT by HMRC Admin 20

If the interest is in an account in your wifes name only then it is her who should declare it.
If it is a joint account, you both need to declare 50/50.

Thank you.

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