Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 22 Aug 2024 16:40:48 GMT by Kolif
Hi I would like to buy a Two Years NS&I’s Guaranteed Growth Bond. I will get back the principal and interest on the maturity date. However, there’s a feature of interest rates on the summary box: “We calculate the interest daily and add it to your Bond on each anniversary of investment.” When I fill in the self assessment, should I report the interest income each year in the coming two taxation years? Or report all interest income (i.e. two years interest income) as a whole on the maturity date? Thank you for your assistance.
Posted Thu, 05 Sep 2024 11:29:07 GMT by HMRC Admin 20 Response
Hi,
If you can access the interest when it is added, you report it in that year. if not then it is the year of maturity.
Thank you.

You must be signed in to post in this forum.