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Posted Sat, 18 Nov 2023 23:39:27 GMT by
Hi, I'm looking for confirmation of when to apply rounding to bank interest, when paid monthly and potentially less than a pound. I understand that it should be rounded down. As an example: Jan 90p Feb 90p March 90p Would this be reported as £0 (rounded down at each month and then summed) or as £2 (summed together and then rounded).
Posted Wed, 22 Nov 2023 12:53:39 GMT by HMRC Admin 25
Hi BritishAl23,
As you would be loking at the total interest payable over the year, you would need to add the monthy amounts together, even if below £1, and then round down the final total.
Thank you. 

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