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Posted Thu, 08 Feb 2024 10:30:54 GMT by kartikeyamalhotra
I have an overseas joint savings with my wife in India where she is the primary holder and I am the secondary holder. As per Indian taxation rules, all the interest accrued as well as tax is deducted on her name as she is the primary account holder. How do we report this in our UK tax returns. do we split the income and tax paid since in UK it is split 50/50 or does my wife report it on her self assesment only
Posted Tue, 13 Feb 2024 14:00:58 GMT by HMRC Admin 32 Response
Hi,

As it is a joint account it is split 50/50 unless you wish to submit a claim for an alternative split.

Declare beneficial interests in joint property and income

Thank you.

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