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Posted Wed, 07 Jun 2023 06:47:01 GMT by kec
Hi HMRC Admin8/ Admin10 Thanks for your reply. Many thanks, my saving interest is less than GBP10,000. Meanwhile it would be great if you can provide the link (HMRC) for concerned criteria so as to develop better understanding. Interest rate has been getting higher so .. it maybe useful in the way forward. Thank you.
Posted Thu, 08 Jun 2023 14:34:39 GMT by HMRC Admin 32

Please refer to:

Self Assessment tax returns

Thank you.
Posted Tue, 20 Jun 2023 20:03:47 GMT by Andre Walt
Hi, I've completed a self assessment form for two years now, want to do the latest but I never have the interest earned pre-filled. I have multiple bank accounts, and can't find what interest I've earned, so I can't complete it for this year. Why isn't it pre-filled for me?
Posted Thu, 22 Jun 2023 19:04:00 GMT by kokomui Pang
Hi, I am in full-time employment(PAYE). I know my saving interest will not exceed the allowance, but a part of interest was earned from foreign bank. Do I need to submit the self assessment tax return? Thank you
Posted Fri, 23 Jun 2023 15:33:29 GMT by HMRC Admin 25
Hi Andre Waltm,
The interest section  of the Self Assessment Tax return is never prepopulated.
Thnak you. 

Posted Fri, 23 Jun 2023 15:50:29 GMT by stiermonica
I see that the Bank should notify HMRC about any generated interest. When I contacted HSBC the answer was they don't do it. So is the choice of the bank if they notify HMRC?
Posted Tue, 27 Jun 2023 11:09:51 GMT by trent7 bond
If you are PAYE, how do you pay interest to HMRC as a lump sum, instead of by tax code.
Posted Tue, 27 Jun 2023 15:33:17 GMT by HMRC Admin 19
Hi kokomui,

You can see information here:

Self Assessment tax returns

Thank you.
Posted Wed, 28 Jun 2023 13:24:35 GMT by HMRC Admin 25
Hi stiermonica,
The bank is required to supply the information under Schedule 23 of the Finance Act 2011 so they will stll need to report this.
If you are looking to have your tax affairs sorted quicker, you can still supply this information yourself.
Thank you. 
Posted Sat, 01 Jul 2023 19:16:30 GMT by Sandie71 McLean
Hi I live and work in Scotland and earn less that £50k p/a Am I correct in saying that for savings interest I follow the UK tax rates and bands and I am allowed to earn up to £1k before having to pay tax on savings interest? Also if I do earn more thank £1k in interest do I only need to pay tax at 20% as opposed to the higher rate of 40%. Thanks
Posted Sat, 01 Jul 2023 22:41:24 GMT by S1997
Hi, I have fixed savings account with reputed high street bank & it will be matured after 1 year. i am full time employed & don't need to do self-assessment. The interest earned will be more than £1000. do i need to report myself to HMRC or bank will inform them. Thanks in advance.
Posted Mon, 03 Jul 2023 15:20:00 GMT by HMRC Admin 10
Hi trent7 bond
Once HMRC have issued a tax calculation, you can pay the amount directly through the Personal Tax Account or by cheque.
Posted Thu, 06 Jul 2023 12:03:14 GMT by Alex CHAU
Hi HMRC, I am working in part time employment and do not currently file a self-assessment. I have some money in the saving account and i suppose the bank will notify HMRC about the interest. Apart from that, I have some US treasury bill bought from the market through a UK registered broker. The total interest earn in a year is expected to exceed £1000. Do registered Broker report interest to HMRC? Do I need to register for self assessment or is there a more way to only report the interest earn from the US treasury bill? Thank you!
Posted Thu, 06 Jul 2023 22:34:25 GMT by Watchoutbumblebee
I have been under the tax threshold for the past ten years, but just started working and paying tax 6 months ago. I am on the lowest tax band. I will be earning interest in a few accounts that will take me over the tax band by January 2024. 1. Do I need to notify HMRC that I’m paying tax so that they can tax my interest? 2. Do I need to fill out any forms or send any end of year bank statements to HMRC? My money is split between a few different high street banks’ saving accounts. Thank you
Posted Fri, 07 Jul 2023 06:57:50 GMT by HMRC Admin 20
Hi Sandie71 McLean,

It would be based on the Scottish rates Income Tax in Scotland

Thank you.
Posted Fri, 07 Jul 2023 07:17:13 GMT by HMRC Admin 20
Hi S1997,

Banks will normally notify HMRC of interest received each year.

Thank you.
Posted Sun, 09 Jul 2023 12:16:36 GMT by Neal
Hi my wife and I have joint savings accounts, with the increase in intererest rates we will likely exceed our personal allowances and if rates keep rising, possibly exceed the £10,000 limit,though this would be the joint total not each, all accounts accruing interest are joint. For clarity this joint total ie the 50/50 split of our interest will definitely be well below £10,000. We both work and are both employed / PAYE, we are both close to retirement, but have no pension income or any other additional income. My queries are: 1. Can you confirm that the banks / building societies declare the interest at the end of the tax year and then HMRC will amend our paye tax codes ? 2. If rates keep rising and the joint total exceeds the 10K limit for the current tax year would we need to complete self assessments, given that a 50/50 split will be well below the 10K limit ? Thank you.
Posted Wed, 12 Jul 2023 14:33:28 GMT by HMRC Admin 20
Hi Alex CHAU,

You will need to register for self assessment to report the foreign interest, regardless of the amount recevied.  
There is a tool at Check if you need to send a Self Assessment tax return to check if you need to complete a tax return
and guidance at Self Assessment tax returns for registering for self assessment.

Thank you.
Posted Wed, 12 Jul 2023 15:48:11 GMT by Rob
Hi I've just filled my 2022 2023 self assessment. I'm a 40% but not 45% tax rate payer hence for this year I should have a £500 interest allowance. I earned £202 in bank interest (all paid gross) but on the view calculation page, this is being added to my total income on which tax is due. Am I missing something or is this an error? Many thanks
Posted Thu, 13 Jul 2023 01:07:25 GMT by kec
Hi, I got the answer regarding to the fact that a foreigner (non UK tax resident) with saving interest earned from bank(s) in UK less than GBP10K in a tax year NO NEED to file tax return. Meanwhile I just saw one, seemingly a UK tax resident, needs to "register" for self assessment to report the foreign interest regardless of the amount received (mentioned by HMRC Admin 20 in a very recent post) THEREFORE I would like to clarify whether such requirement to register for self assessment is also applicable to foreigner (non UK tax resident) earning saving interest - less than GBP10K saving interest from bank(s) in UK in a tax year although there is no need to file a tax return anyway?

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