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Posted Wed, 01 May 2024 22:50:24 GMT by HALE
Hi, I'm aware that I will need to fill out a self-assessment tax return form for freelance work. But do I also need to declare my bank interest as well (if the interest is higher than the £1000 allowance)? Because I would assume that for bank interest, the bank will notify HMRC automatically already, so will it be redundant for me to mention this again in the return form? Thank you
Posted Fri, 10 May 2024 08:33:22 GMT by HMRC Admin 25 Response
Hi HALE,
Yes, you would need to decalre the untaxed bank interest as well.
On the Self Assessment you are declaring your income for that tax year and you need to inlcude any income that has already been submitted to HMRC for example employment pay and tax or bank/building societies interest. 
Thank you. 

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