HMRC could target UK couples who have a joint account. UK savers who have bank accounts with their partner have been warned over an unwelcome letter from HMRC.

The Labour Party government could issue taxpayers with an unwelcome and unexpected bill, it has been warned. Lots of people may not realise that having savings together means the interest is split 50/50 between the two account holders, according to Laura Suter from AJ Bell.

For example, if a joint savings account that generated £1,000 of interest each year, it would be split so that each partner has £500 interest to count towards their Personal Savings Allowance. “If one half of a couple is a lower earner, and so in a lower tax bracket, it could make sense to move the savings into an account in their name, as any interest that

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