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Posted Mon, 09 Dec 2024 17:13:39 GMT by dijeah
If my total savings interest from the UK bank is less than my Personal Savings Allowance, then do I need to report it in the Self Assessment?
Posted Tue, 10 Dec 2024 10:36:57 GMT by HMRC Admin 10 Response
Hi
Please look at the information here Tax on savings interest
Posted Tue, 10 Dec 2024 18:11:45 GMT by dijeah
The link you shared does not mention whether we need to report the interest in Self Assessment if its within the PSA limit. Also, the link you shared mentions - "You can claim through your Self-Assessment Tax Return if you complete one." Which section of column of Self Assessment should I use for this?
Posted Fri, 13 Dec 2024 10:15:33 GMT by HMRC Admin 20 Response
Hi,
Please report your total savings interest on your tax return.
Tax will not usually be deducted from savings interest, but if your bank confirms that it has, please enter the net amount in the box titled 'Taxed UK Interest'.
Thank you.
 

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