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Posted Wed, 25 Jan 2023 03:33:30 GMT by Christ
Hello, When my daughter reached 16 in Aug/2021, I give her money to invest in one 2 year fixed ISA rate adult ISA (in additon to junior ISA). In the Sep/2022 ISA anniversary date, the interest declared is more than 100 pound. I understand that under the parent settlement rule, the interest shall be counted as mine, and be filed under my income in tax return 2022-23. In Sep/2023, when the 2 year fixed rate ISA mature, my daugher is 18 year old already. For the tax year Apr/2023-Apr/2024, shall it still be declared in my tax return, or shall it be as income under my daughter's tax return?
Posted Thu, 26 Jan 2023 17:03:39 GMT by HMRC Admin 10
As this is in the future, HMRC cannot advise on this as legislation may change before then.

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