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Posted Wed, 27 Mar 2024 16:39:01 GMT by T Yeung
Hi there, "Savings interest" If the savings interest (6/3/24 to 5/4/24) is put into to my bank account on 6/4/24. This savings interest would be reported in 23/24 tax year or the year after? "Cash dividend" If the ex-dividend date is 31/3/24 and I get the cash dividend (money) on 15/4/24 in my account. This cash dividend would be reported in 23/24 tax year or the year after?
Posted Tue, 02 Apr 2024 09:38:05 GMT by HMRC Admin 2 Response
Hi,

No, the interest arises between 6 April 23 to 5 April 24, so it is declared in the tax return 6 April 23 to 5 April 24.  

You are taxed on this income, in the tax year the interest arises and not the tax year you receive it, unless both are the same tax year.

Thank you.

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