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Posted Thu, 02 Jan 2025 09:59:20 GMT by Neilmrobertson
Hello I'm employed and pay tax through PAYE and also self employed so compete SA every year with detail from my works p60. Savings interest - as I'm employed it says no need to complete SA (for savings interest) but as I'm having to complete it anyway do I submit my savings interest? I don't expect it to be over my personal savings allowance. Thanks
Posted Mon, 13 Jan 2025 11:49:45 GMT by HMRC Admin 21 Response
Hi,
As your savings interest is under £10,000, you do not need to file a Self Assessment tax return to declare this income.
When your bank or building society sends confirmation of the amount of interest you received, we will automatically calculate the amount of tax owed, then send confirmation of this calculation, detailing ways in which to pay (if the amount cannot be coded).
You can find out more here - Tax on savings interest.
Thank you.
Posted Mon, 13 Jan 2025 14:45:40 GMT by Clive Smaldon
Not HMRC...HMRC has misunderstood your question...yes you include your savings interest, and all sources of income...the reason for your SA form is some self employment income, but you need to enter all sources, including savings interest, regardless of the amount...like I said, HMRC has ignored the fact that you need to submit SA regardless due to self employment which means everything needs to go on your return.

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