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Posted Sat, 24 Aug 2024 13:55:38 GMT by brigidtorrie
Hello, in FY 23-24 I earned around £43,000 from full-time employment (with tax charged at source) and around £9,000 from savings interest. This means that I don't need to register for self-assessment, but I know that I do need to pay tax on my savings - how will this happen? Am I correct in understanding that HMRC will also my tax code and I therefore don't need to do anything?
Posted Tue, 03 Sep 2024 09:38:06 GMT by HMRC Admin 10 Response
Hi
If you earn interest over your allowance but under £10,000 and are employed or receive a pension, HMRC will change your tax code so you pay the automatically. The code for the current year will be based on how much interest you had in the previous year. 
Further information can be found here: Tax on savings interest

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