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Posted Thu, 23 May 2024 11:23:55 GMT by pja
Because of the higher interest rates I need to pay some tax on my savings interest. My pensions are all taxed at source so I don't know how I would do a self assessment form. I understand the banks will inform HMRC of interest paid to me - how do I pay the tax due or do I wait for HMRC to get in touch with me, I would prefer to pay the lump sum rather than have my tax codes interfered with.
Posted Tue, 28 May 2024 16:18:10 GMT by HMRC Admin 19 Response
Hi,

Once your banks have informed HMRC of the interest received, we will send you a calculation if any tax is owed on that interest. Details on how to pay will be included with our calculation.

Thank you.

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