calling tax expert mums: how to handle interest paid on joint bank account?

[MizZan]

Just that really - DH is a higher rate tax payer, I am not (though I pay at 22% rate), and we hold a bunch of savings in a joint bank acct. Can I declare that all the interest is "mine" and therefore I pay all the tax on it (at my rate) and he pays none? Or do we have to really call it 50/50?

thanks!

50/50, unless you have documentation that it isn't.
Easier to put it in an account in your name only.

what sort of documentation would that be, chasing?

Assumed to be 50/50 unless you have declared that it's otherwise

I agree, 50/50, thems is the rules.

actually, looks like you can't elect on bank accounts for married couples hmrc
which would mean it has to be 50/50

thank you all - looks like I'm off to explore some new savings accounts...

just put it in your name.

Put in your name in the future. When we sold our house and had a nice wad of money for several months before buying again, we put it all in my name.