Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 22 Nov 2023 15:46:48 GMT by
I need to submit a self-assesment to pay the child benefit charge due to my income being over the threshold. this is the first time i've done a self assesment as I am in full time employment, not self employed. I do have interest from savings - which I understand hmrc would already know about and have adjusted my tax code to compensate so I'll already be paying tax on that (I assume). and some dividend income - but it's within my annual allowance. But in the self-assesment, I read that it asks about declaring interest from savings, and dividend income. Do I need to do this given it's already through my income tax code / within my allowance. Concerned I may be overcharged if I declare it. Or should I only be ticking the boxes relating to child benefit charge, as per my original requirement. thanks
Posted Mon, 27 Nov 2023 16:01:18 GMT by HMRC Admin 19
Hi,

If you have savings interest and dividends included in your tax code you will still need to declare the details on your Self Assessment tax return. You will get the benefit of your savings allowance in the calculation, so if below the threshold you would not be taxed. 

Thank you.

You must be signed in to post in this forum.