Self assesment/child benefit high rate

Hi We need to do our online self assesment for the tax year 2023-2024. We claimed child benefit and we also earned interest on some savings. Is the tax free allowance £500 for the 40% tax bracket for that tax year? Will the self assessment ask separately about interest on savings. Or would we need to do this separately. Will it be a case of paying back 100% of child benefit( as the interest pushes us over 60k) plus paying back the interest? Ie the two will be added together to make 1 lump sum ? Many thanks

[Display name amended - Admin]

Hi,
 

The tax free Personal Savings Allowance for higher rate taxpayers in 23/24 is £500. Interest on savings should be entered in your tax return under 'Untaxed UK interest etc…' . While this amount of interest received will be added to your adjusted net income, as you described, you will not need to pay back the interest - only the tax due on that interest, if any is due at all. Thank you .