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Saving Interest Income

Posted Mon, 23 Oct 2023 16:10:50 GMT by
Hello, I am in full time employment. My total income for the tax year of 2022/23 (including annual salary and interest income) is less than £50,270. My saving interest is around £1,500 (above my personal saving allowance of £1,000) 1) Do I need to report my saving interest income to HMRC? 2) If yes, where can I report the saving interest income through online? Thank you.
HMRC Admin 21
Posted Tue, 31 Oct 2023 10:25:08 GMT by HMRC Admin 21
Hi akquestion
If you do not complete a Self Assessment then the bank/building societies report the interest details to HMRC after the tax year end. Once received HMRC will review your PAYE record and if tax is due a calculation will be issued to you.
Thank you.

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