scottandlou
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RE: Personal allowance deducted by "Untaxed Interest on Saving"
Just noticed this on my daughters tax code after leaving uni - so you deduct estimate amount of interest potentially received from a Tax code so collecting tax throughout the year that if turns out to be a correct amount of interest at below £1k for a basic rate tax payer you refund. If I am correct in this assumption you are basically taking money before you could possible know it will be due. Like a monthly HMRC savings account with absolutely no benefit and in fact an inflation driven loss on that cash at the end of the year.