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Posted Fri, 05 May 2023 16:34:07 GMT by Daniel Salas
Hi I hope an agent can help me I have received interest income from two bank accounts above the allowance of £1000 - the total is about £700 from one and £900 from the other I tried calling hrmc but it is imposible to speak - how do I pay the extra tax from the £1000 allowance? Does both bank report my interest income and hrmc deducts it? Please help me Thanks
Posted Thu, 11 May 2023 13:03:50 GMT by HMRC Admin 25
Hi Daniel Salas,
The Interest will be reported to HMRC and you will receive a P800 tax calculation if any tax is due.
Thank you. 

Posted Thu, 11 May 2023 17:33:44 GMT by Daniel Salas
Hi Thank you - so both banks will report the interest income and HRMC will let me know when to pay any tax due ? Thanks
Posted Thu, 18 May 2023 13:32:40 GMT by HMRC Admin 32

That is correct.

Thank you.

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