IansMusical

Hello, Thank you for your reply but there's a couple of things I still haven't understood/am confused by. 1) Where is joint interest applicable if interest is earned on, for example, a fixed term savings account in my wife's name only? Does it have anything to do with where the capital to invest comes from? 2) I don't see the relevance of Form 17 as this appears to be for income from a property that's in a joint name and my original question mentioned nothing about a property? In a nutshell the question I am asking is if my wife can claim her Personal Allowance (£17570) against any interest gained (on a fixed term savings account in her name only) such that it's tax free, given that she has no income at all due to being a stay at home mum? Is it relevant where the capital she would use comes from? Thanks again in advance.

Hello, I have already read the "Tax on savings interest" webpage and think it says that interest earned on savings in addition to the £1000 "Personal Savings Allowance" can be offset against the "Personal Allowance", providing one hasn't already used the "Personal Allowance" on wages, pension or other income. Can I check that this conclusion is still the case given the following? My wife and I have a joint account. I work full time and my salary is paid into the account. My wife does not work due to being a stay at home mum/housewife. If she earns interest in an account in her name with, for example, money from our joint account or an inheritance, will the interest earned still be offset against her "Personal Allowance"? Thanks in advance . 

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