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Posted Thu, 05 Jan 2023 15:44:30 GMT by YeeUK
Hi, my yearly fixed term deposit interest will be paid in November 2023. For the tax year 22/23, can I report the accrued prorated interest as taxable income in tax year 2022/2023,? Or is it mandatory to report one lump sum interest in the year it's paid, ie. 23/24? Many thanks for advice
Posted Wed, 11 Jan 2023 12:29:21 GMT by HMRC Admin 32

You will report the full amount in the year it is paid.

Thank you.

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