Jobs & Education1 min ago
Paying Tax On Interest Earned Over £1000
4 Answers
Does HMRC automatically sort this payment out via tax code following year or am I expected to complete a form?
I do not receive state pension but do get personal pension and pay 20% tax. Realise I should have put money into isa but messed up and too late to alter now.
Just hoping this gets sorted somehow automatically via NI number?
Can anyone advise?
Many thanks in advance.
I do not receive state pension but do get personal pension and pay 20% tax. Realise I should have put money into isa but messed up and too late to alter now.
Just hoping this gets sorted somehow automatically via NI number?
Can anyone advise?
Many thanks in advance.
Answers
Information gets sent to tax office, they usually alter my code to recoup the tax, only a couple of times in the last 15 years have they sent me a bill. I remember the 'old days' when a member of staff in the bank had to sit down and fill in a return by hand and send it off . Thank goodness for computers.
18:27 Sat 09th Sep 2023
See "If you go over your allowance", here:
https:/ /www.go v.uk/ap ply-tax -free-i nterest -on-sav ings
https:/
Information gets sent to tax office, they usually alter my code to recoup the tax, only a couple of times in the last 15 years have they sent me a bill.
I remember the 'old days' when a member of staff in the bank had to sit down and fill in a return by hand and send it off . Thank goodness for computers.
I remember the 'old days' when a member of staff in the bank had to sit down and fill in a return by hand and send it off . Thank goodness for computers.
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