BillontheCorner

Fair enough, but my second question is very definitely one for HMRC

NS&I state that "Guaranteed Growth Bonds that are purchased or renewed on or after 1 May 2019, all interest will be treated as being received in the year in which the Bond matures". However, their Maturity Statement for a three year bond renewed in 2021 merely states "Interest earned for the 2023/24 tax year" and "If the total interest on all your taxable savings is more than this allowance, or you pay tax at the additional rate, you will need to declare your interest to HM Revenue & Customs and pay any tax due". Three questions occur to me: 1) Are NS&I correct in saying that I need to add together the interest received over the three years and declare it as all being earned in a single tax year? 2) Is there no "averaging" provision to avoid the same investment becoming taxable for one year in every three? Guaranteed Growth Bonds recently advertised under the heading "British Savings Bonds" earn 4.15% interest, so will generate a tax liability on maturity if the value of the initial holding exceeds £8,032. 3) How can NS&I be persuaded to do the adding up for us, so that their Maturity Statements actually contain the information required when filling in a tax return?