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Posted Sat, 26 Aug 2023 21:03:28 GMT by Greg
Hi My wife and I took money out of our joint mortgage, which we've put in a savings account which is under my name only. The savings account has one linked account for transferring money out, which is our joint current account. Are we still able to split tax liability 50/50 for savings interest? Thanks
Posted Fri, 01 Sep 2023 06:20:28 GMT by HMRC Admin 25 Response
Hi Greg,
As it is one name only then no.
All the interest would be yours to declare.
You would need to change the account or submit a declaration of trust giving beneficial interest away.
Thank you. 
 

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