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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
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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