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Posted Thu, 16 May 2024 16:22:14 GMT by Harr1son Michael
I have a sole income from a pension of £12480 per year. I have just received a statement from my bank showing the interest I was rewarded for the last tax year , which was a total of £512.65. As this is under my personal interest allowance, do I still need to let HMRC know ?
Posted Tue, 21 May 2024 09:40:22 GMT by HMRC Admin 10
Hi
No - your banks will automatically declare this interest to us, and no tax will be due on this amount as it is under your Personal Savings Allowance.

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