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Posted Fri, 12 Jan 2024 20:59:44 GMT by Andrew Brooman
Hello team My wife earned more than £1,000 in interest on her savings for the tax year 2022-2023. She does not need to submit a tax return. Will HMRC get notified by the banks of thhe amount of interest earned, or does she need to notify HMRC? If the latter, how should she do this? Thanks!
Posted Thu, 18 Jan 2024 17:07:59 GMT by HMRC Admin 25 Response
Hi Andrew Brooman,
Your banks and building societies inform us after the tax year of any interest your accounts have earned.
If there is any tax to pay on any of this interest, it will either be paid through your code in a later tax year, or we will send a request to pay when the calculation is complete.
Thank you. 

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