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Posted Fri, 18 Oct 2024 14:26:30 GMT by zzzy92
Hi, If I pay my self assessment tax early, will I earn interest on this? If so, will this interest be taxable? Thank you.
Posted Mon, 28 Oct 2024 11:43:17 GMT by HMRC Admin 32 Response
Hi,
If you overpay Self Assessment tax, interest is applied to this overpayment from between 31st of January the following year, and the date your overpayment is repaid to you.
Interest paid by HMRC is not taxable income, you can read more here:
HMRC interest rates for late and early payments
Thank you.

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