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Posted Tue, 07 Jan 2025 10:40:32 GMT by Lam345
I am employed and pay tax through PAYE, I also have to complete a tax return as I am a higher rate tax payer and claim child benefit. Do I have to declare any savings interest on my tax return? As I thought, as I also pay through PAYE that any tax required on this would be collected this way automatically also through my tax code being amended, so if I declare it on my tax return would this not been I would pay twice?
Posted Tue, 21 Jan 2025 10:42:19 GMT by HMRC Admin 8 Response
Hi,
Yes, you will still need to declare any Savings Interest in your Tax Return but this does not mean that you will taxed twice on this income:
Tax on savings interest
Thankyou.

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