Savings in joint bank account

If I open a joint bank account (with a right of survivorship) with my daughter, and I declare that the money in the account is the gift to my daughter, both of us have the right to access the account and make transactions. I have queries on taxation: 1. Interest earned in a tax year: - how the split of the interest earned (50%-50%?) in the joint account between me and my daughter for reporting interest tax? 2. Inheritance tax (assume I die after 7 years after opening the joint account): - Does my daughter automatically assumes ownership of the entire account balance? - Will the amount in the account be exempted for the inheritance tax? Thank you

Hi,
If a joint account, then the interest would be split 50/50.
For Inheritance Tax please contact our Inheritance Tax team for advice.
Inheritance Tax: general enquiries
Thank you.