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Posted Fri, 06 Sep 2024 16:36:25 GMT by Hardy332
I have a joint savings account with my elderly parent. I do not put any money in, and I take nothing out. It is entirely my parent’s monies and they take 100% of the interest. I spoke to HMRC who said it was not possible to do anything but a 50:50 split for tax on the interest but I am sure I have seen that it was possible to change this if the circumstances are like mine.
Posted Fri, 13 Sep 2024 10:36:11 GMT by HMRC Admin 21 Response
Hi Hardy332,
Please have a look at the guidance at TSEM9930 (TSEM9930 - Ownership and income tax: Specific types of property: bank and building society accounts - legal and beneficial ownership).
Thank you.

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