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Posted Sat, 09 Dec 2023 13:41:15 GMT by
I am retired and have savings and the interest has gone over £1000. How do I pay the tax owed to HMRC. Thank you.
Posted Fri, 15 Dec 2023 10:06:36 GMT by HMRC Admin 25 Response
Hi Yvonne Block,
If your savings exceed both the savings allowance of £1000 and any remaining tax free allowances after all of your other income has been covered, then we will calculate any tax owed on these savings.
If the tax owed can't be collected through a later year's tax code, we will contact you to provide alternative ways of paying.
Thank you. 

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