Navigating Self-Assessment Tax Return with a Joint Bank Account Outside the UK

Before I moved to the UK over half a year ago, my mother and I had a joint bank account based outside the UK. It is essential to note that all the funds in this joint account belong solely to my mother, and I do not have any authority to utilize her money to generate interest or dividends. Moreover, my mother is a non-resident and currently lives outside the UK. Given these circumstances, I am unsure how to proceed with my self-assessment tax return, as I hold 0% ownership of her money in the joint account. Your guidance on this matter would be greatly appreciated. Thank you.

Hi C CYK,

As it is a joint bank account, any interest is split 50/50. you would need to submit a declaration of trust to show that none of the interest is yours.
this needs to be signed by you and your mother and witnessed.

Thank you.

Hi Sir / Madam. Thank you very much for your reply. Can I use HMRC Form 17, which is used to declare beneficial interests in joint property and income, to show that none of the interest belongs to me? If not, please advise. Thank you.

Hi, 
 

The form 17 is for married coupes/civil partnerships only. If this applies to you then yes you can use the form. If not, you would need to submit a declaration of trust giveing the revised beneficial split  . Thank you.

 

Thank you for HMRC's reply. Form 17 is not applicable for my situation. May I know how to submit a declaration of trust? Please advise. Thank you.

Hi C CYK,
Once you have the declaration of trust, this must be sent in writing to HMRC, PAYE & Self Assessment, BX9 1AS.
Thank you.