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  • Tax - Allocation of savings interest agreement
    Allocation of savings interest agreement If spouses or civil partners do not want a 50/50 split of savings interest, they can declare that income be split according to each person's beneficial entitlement as detailed in a written agreement.Beneficial ownership of bank account fundsAs a general rule, assets owned by spouses in joint names are treated by HMRC as shared equally by both partners, and any income produced will be taxed accordingly. But where actual ownership of an asset differs from 50/50, a married...
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