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Posted Wed, 08 Nov 2023 11:34:34 GMT by Orson Cart
I am in full time employment. I do not receive a pension. I do not complete a self assessment form and according to the HMRC questionnaire I don't need to. My question relates to savings that I have in UK banks which I believe will be subject to tax: Do I need to do anything to report my savings to HMRC or will that be done automatically by the financial institutions which hold my savings?
Posted Wed, 15 Nov 2023 12:04:31 GMT by HMRC Admin 25
Hi Orson Cart,
UK banks and buikding socities notify HMRC or the interest received.
If there is any additonal tax to pay, a calculation will be issued to advise.
Thank you. 

 

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