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Posted Sun, 15 Dec 2024 21:36:53 GMT by Ramesh Subramaniam
Hi, I have savings outside of UK but did not withdraw interest and let the deposit roll over for another year. Do I need to declare the interest as income this year? Or can I only declare the income when I withdraw the interest?
Posted Mon, 23 Dec 2024 11:31:37 GMT by HMRC Admin 17 Response

Hi ,
 
If you can access the interest then yes you still need to declare.

It is only if the account stops you from withdrawing that you then declare it in the tax year of amturity .

Thank you .

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