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Posted Sat, 17 Aug 2024 15:38:31 GMT by Josh Bear
Hi, I have NS&I bonds maturing in 1 months time and my intent is to allow them to automatically move to another Bond with NS&I. None of the funds will leave NS&I for another year. Given I have earned interest on the current bonds and that will go into the new bonds with the original capital, when do I pay tax on that interest? 24 / 25 Tax year or 25 / 26 Tax Year? In case it is relevant, I am no longer working and have no income apart from interest on my savings as my pension is not available yet. Thanks for any help. 

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Posted Wed, 28 Aug 2024 13:39:31 GMT by Josh Bear
Hi, Can guide me on this? thanks
Posted Thu, 29 Aug 2024 09:28:02 GMT by Devindra Thakur
I came here looking for an answer to the same question. Hopefully there will be a reply soon.
Posted Mon, 02 Sep 2024 07:52:12 GMT by HMRC Admin 21 Response
Hi Josh,
If any tax is due on the interest earned on your maturing bond, it will be payable in the year it was earned.
Thank you.

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