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Posted Wed, 17 Apr 2024 15:53:45 GMT by Silverswan Walsh
Hi I thought the banks would inform the HMRC so haven't even done a thing , but suspect now that I should owe something for 23/24 as interest rates were high. Interest not over 10,000, . I am state pensioner with very small con /out pension. Do I need to speak to HMRC, really worried they may think I am hiding something. I am happy to pay what I owe, if anything Thanks
Posted Tue, 23 Apr 2024 14:28:25 GMT by HMRC Admin 5 Response
Hi

The Banks will notify HMRC about the amount of Bank Interest you receive.  
You can also write to HMRC with full details of the Bank Interest recieved during 2023/2024 - a full review will then be carried out and you will be informed if you owe any tax.  
HMRC PAYE & Self Assessment,
BX9 1AS.  
Please also refer to the following guidance -  Tax on savings interest

Thank you

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