A4.417 Joint accounts

A4.417 Joint accounts

Where more than one person is beneficially entitled to interest on an account with a building society or deposit-taker, a separate certificate must be given by each of those persons who are not likely to be liable to income tax on savings income1. Interest on that account may only be paid without deduction of tax in respect of the part of the interest corresponding to the share of those persons in respect of whom certificates have been received. The remainder of the interest must be paid under deduction of tax2; the tax so deducted is treated as

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