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Posted Fri, 01 Nov 2024 19:01:08 GMT by SImon Cooper
My wife sold a property (solely owned by her in the US) with the proceeds going into her US bank account. She subsequently transferred the money into our UK joint account, and then into a savings account held in her name. She has paid the appropriate tax assuming it is solely her property in both the US and UK. I am a higher rate tax payer - am I liable for anything as the money came into and went out of our joint account?
Posted Fri, 08 Nov 2024 09:02:13 GMT by HMRC Admin 19 Response
Hi,
If the money accrued interest while in your joint account, you will both be liable to tax on the interest.  
As for the capital, you advise that UK Capital Gains Tax has already been paid, so no further tax is chargeable.
Thank you.

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