Is interest on savings in a joint savings account taxed 50/50?

[anddeepbreathandsigh]

My DH and I have 400k cash in a joint savings account. He is a higher tax payer at 40% and me on 20%. If we make £16,000 interest, for tax purposes is that 16k split 50:50 so we’re both taxed appropriately on 8k each. Him paying £3,200 and me £1,600?

We will be using ISA allowance etc in the future but for other reasons this will be sitting in our joint savings account for a year.

Yes. Any interest in a joint account is assumed to be split equally between the holders of the account.

But you will get your personal savings allowance tax free. £1000 for you and £500 for him.

Thank you