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HMRC internal manual

Inheritance Tax Manual

The extent of the share (Scotland): joint money accounts

The fact that a bank account is held in joint names and that receipts for deposits into it are issued in joint names does not necessarily mean it is held in equal shares. Neither does it mean there is survivorship destination. The extent of each owner’s interest will be a question of fact depending on

  • the extent of their identifiable contributions, and
  • if contributions are unequal whether there can successfully be established donation (IHTM15050) by the greater contributor to the other, or alternatively, whether the asset was held in joint names merely for administrative convenience

You should resist any suggestion by the taxpayer or agent that the terms in which the account is held can effect either a lifetime gift - or pass the property to a survivor, unless there is other supporting evidence. Any cases of difficulty should be referred to Technical.