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Posted Thu, 31 Aug 2023 17:14:26 GMT by
Dear HMRC, I read the information in https://www.gov.uk/apply-tax-free-interest-on-savings , may I confirm my understanding are correct: 1) Starting Rate of Saving, it - include : interest from both UK saving and foreign saving, inside and outside UK - include: interest from current account, saving account and time deposit account - include: interest from government bonds, corporate bonds, no matter issued by UK or foreign entities 2) Saving Allowance, it - cover: interest from both UK saving and foreign saving, inside and outside UK - cover: interest from current account, saving account and time deposit account - cover: interest from government or company bonds, no matter issued by UK or foreign entities 3) Assuming I only have £12570 salary and £6000 saving interest, I don't need to subject to any tax right? as it netted off by: £12570 is the tax allowance, £5000 starting rate of saving, plus £1000 is interest allowance Thanks for your guidance.
Posted Tue, 05 Sep 2023 13:40:14 GMT by HMRC Admin 10 Response
Hi
You are correct.
Thankyou.

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