Duncan

My wife has a fixed term bond that she wishes to gift to me before it matures. We have co-signed a deed of gift to that effect. The interest will arise at maturity and I expect the interest to form part of my income and also the associated tax liability. However, the institution in question will not accept the transfer of ownership, and will therefore report the interest income in my wife's name once it matures. Will the deed of gift satisfy HMRC that the gift was completed prior to the end of the term and reallocate the interest earned to me on that basis?