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Duty on the individual to inform HMRC about interest from savings?

Wolverton196 New
Posted Sun, 31 Dec 2023 16:26:40 GMT by Wolverton196 New
Despite questions from others on this forum, I remain unclear about whether there is an actual requirement on myself to inform HMRC about interest from savings above £1000. Please can you confirm whether I must be in contact with HMRC when my interest from savings goes over £1000 as I expect it to? How must I inform you if that is the case?
HMRC Admin 5 Response
Posted Tue, 09 Jan 2024 15:26:41 GMT by HMRC Admin 5 Response
Hi

If all of your interest is from UK bank/bulding society accounts, you do not need to inform HMRC as we will be notified automatically.
If any interest is from any other source (not ISA) then yes you will need to tell us.

Thank you

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