appchair52
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Interest from savings - different tax bands for husband and wife
My wife and I sold our primary residence a year ago and deposited the funds across a number of individual (not joint) savings accounts. The majority of the money is in her name, as she is a basic rate taxpayer, with a £1,000 personal savings allowance. I am a higher rate taxpayer, with a £500 personal savings allowance. When completing our self-assessment returns, should we include within our individual tax returns only the interest associated with the accounts in each of our names, or should all interest from savings be split 50:50 as we are married, and the source of the funds is shared? Thanks