Where interest arises on an account held in the joint names of spouses or civil partners, each will normally be taxable on half of the interest, under ITA07/S836. Where, however, their beneficial entitlement to interest (or any other income from a jointly owned asset) is not actually 50:50, they may elect to be taxed on their actual entitlement. Detailed guidance on jointly held property, previously found at TSEM9805. Note that certain cases require referral to: Mailbox, Trusts Technical (CS&TD).

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