Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 08 Oct 2024 09:46:53 GMT by ricon
Hi, my wife and I are UK tax residents. I have a few foreign bank accounts in my sole name, but they are effectively held for the common benefit of me, my wife and our children. Can I make a declaration of trust in the UK on my foreign sole bank accounts, so that the interest income thereon are split 50/50 between my wife and me? If yes, can the effect also be retroactive, such that the interest income before the declaration can also be split 50/50? Thank you.
Posted Tue, 29 Oct 2024 08:37:00 GMT by HMRC Admin 17 Response

Hi ,
 
No, you will need to make them into joint account.

No claims can be applied retrospectively  .

Thank you .

You must be signed in to post in this forum.