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Posted Sat, 18 Feb 2023 15:26:39 GMT by LM
I find that the banks would offer fixed term (1-3years most likely) saving or bonds. May I ask what's the difference of the taxation rate and calculate between bonds and savings? Do bonds have same allowance for interest earned from saving? How do I fill the self assessment for the interest earned from bonds? Is it same as saving? Thank you very much.
Posted Thu, 23 Feb 2023 14:49:23 GMT by HMRC Admin 32

Savings bonds are similar in many ways to a savings account with a bank or building society. The tax rules for interest from savings accounts is the same for interest from savings bonds.  

The guidance below applies to both.

Tax on savings interest

Thank you.

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