Worth having a joint account?

Hi,

I am soon to married and my partner is an EU citizen. Is it recommended to have joint bank accounts or to stay separate based on possible taxation issues and complications?  What about the purchase of a home/flat in the UK?  Would it be more beneficial to have it under my partner's name?  Just trying to better understand the pros and cons as we prepare for this next chapter in our lives.

-American Expat in UK

You would need to list your spouse on the FBAR form if you have over 10k USD total foreign assets, if a joint account. Depending on your circumstances for MFJ, or MFS, you're spouses worldwide income would be taken into consideration for a joint return. Often it's simpler, (and easier) to file MFS, but this is not always the case.

Can't see any detrimental reason why you both could not own the home.

There are a number of different factors to consider, and (broken record) each situation can be unique. The first place to start is the partners willingness to be included on an IRS tax or FBAR form. Do they feel their private financial information is being compromised? Then come the considerations: is eventual residence in the States planned shortly, does one partner contribute most of the income, which partner has investments, and is it advantageous for one partner only to have investments? Then comes the decision as to how to file, MFS or MFJ. As Barcrest says, most opt for MFS, but your case may be different.

On the house side, one may wish to consider the unspeakable; inheritance if one partner dies. How is the ownership of the house held? What are the HMRC implications, and the length of residence in the UK of the US partner?

No easy, straightforward answers.  

on question of house, I don't know the answer but - if a USC sells a house, they have to pay US capital gain tax (not UK). If the USC is a joint owner, wouldn't they have to pay a portion of the capital gain? (on the other hand, again thinking the unthinkable, in the event of divorce, it's best to have a position of legal ownership).
Other than the implications for FBAR and interest, there shouldn't be any tax implications for a joint account. I have a couple of them with family members for convenience and this has never been an issue.