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Posted Mon, 23 Oct 2023 15:39:52 GMT by
Hi, How should capital gains be accounted for with a joint general investment account for a married couple? Should gains (in the event of a disposal/sale of assets) always be treated: - 50/50% and reported as such on individual tax returns - similar to the initial funding of the general investment account, e.g. if this is a 75/25% split, gains also need to be split as such for tax purposes? or can this be flexible, as long as the total gains are accounted for on both individual tax returns? Many thanks, Pieter
Posted Thu, 26 Oct 2023 15:13:48 GMT by HMRC Admin 25
Hi Pieter Oudshoorn,
If in joint names it must be 50/50 unless you have opted/informed HMRC of an alternative beneficial interest:
Declare beneficial interests in joint property and income.
Thank you. 
Posted Thu, 26 Oct 2023 15:41:50 GMT by
Hi HMRC Admin 25, The page/form you reference specifically mentions jointly owned property. Does the same hold for a joint general investment account (investing in stocks/shares)? Thanks
Posted Fri, 03 Nov 2023 12:31:50 GMT by HMRC Admin 20
Hi Pieter O,
Yes, jointly owned investment account is split 50:50.  Have a look at SAIM2420 - Interest: taxation of interest: joint accounts
Thank you.

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