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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have an investment in the US that accrues interest that I

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I have an investment in the US that accrues interest that I transfer to the UK. I am a British Citizen. My wife is an EU citizen resident in the UK. She stopped working 2 years ago and does not claim any benefits. Neither has she made tax returns since she stopped working. Can I transfer gains from the investment to her tax return?

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

Customer: replied 1 year ago.
I am looking forward to your answer. Michael

Unless the account is in joint names, the interest is yours for tax purpsoes andf should be disclosed in your tax returns as such. If the account was in jount names, the division would be 50:50 unless the ownership proportions of the asset were other than 50:50 and HMRC were informed via a joint declaration using form 17.

I hope this helps but let me know if you have any further questions.

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