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Posted Wed, 05 Oct 2022 03:41:35 GMT by Eva
Hi Admin, I' m a basic rate tax payer, and going to receive bank interest within £1,000 .I 'm not self-employed and do not receive other income like rental incomes, commission . I understand that if you have to complete a Self Assessment tax return , you need to report any bank interest earned on savings there( even though it is within personal savings allowance) If I'm not necessary have to complete a Self Assessment tax return , does it mean that I do not need to declare HMRC about the bank interest when the bank interest earned are within the personal savings allowance ?
Posted Fri, 07 Oct 2022 14:28:36 GMT by HMRC Admin 30

The information should be declared by the financial institution to HMRC after the tax year has ended meaning you should not have to inform us.

Thank you.

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