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Posted Thu, 19 Dec 2024 11:40:03 GMT by Jonty
I have a three year National Savings Bond that matures 10th February 2026. On the 1st anniversary ie 10th February 2024 the following was declared by NS&I: 'Interest Capitalisation = £510'. Do I declare this on my 23-24 tax return, or do I wait until the bond matures in Feb. 26 and then declare total interest earned then?
Posted Mon, 30 Dec 2024 12:16:23 GMT by HMRC Admin 32 Response
Hi,
National savings bonds are not taxable per SAIM1120 and should not appear anywhere in your Self Assessment tax return.
SAIM1120 - Savings and investment income: tax exempt savings
Thank you.
Posted Mon, 30 Dec 2024 15:06:37 GMT by Clive Smaldon
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