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Loss in time deposit

Maggie Wong
Posted Thu, 07 Dec 2023 12:39:50 GMT by Maggie Wong
Dear sir, I have a couples of time deposit made in the UK and one of them encountered a loss. How do I report the loss in interest (untaxed)? (1) The time deposit is a loss because I stop it before its maturity. No interest earned, and I have to pay a fee to the bank for ending the time deposit earlier. (2) The other time deposits give me interests at maturity as planned. Should I deduct the fee in (1) from my total interest earning when filling untaxed UK interest? Thanks and regards, Maggie
HMRC Admin 5 Response
Posted Mon, 11 Dec 2023 15:39:20 GMT by HMRC Admin 5 Response
Hi

More information is required on this for answer to be given. please telephone 0300 200 3310.

Thank you

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