Past_My_Best Payne

Could you please explain the quote shown below sent to Nwils (a couple of posts above this one)?: "If you do not register once we receive the interest figures if over £10,000 we would set you up for tax returns" Do you mean that you will automatically register (set up) the person for SA? I've been contacting HMRC to obtain print outs of interest declared by Banks and Building Societies (something I'd like to be able to access myself through Government Gateway and save the hard stretched guys at HMRC's time and effort) for FY 2022 - 23 and checked them against my figures. In early October this year one Building Society had still NOT reported the figures to HMRC and they were NOT shown on the print out. When I phoned yesterday the details had been updated and I could confirm them. It's a long time from 6 April until mid October. As a matter of interest do you only use the "Actual" figure shown on the Banks and Building Society Interest print out or do you also use the "Estimate C/F BBSI Pre-Pop" which in my case refer to accounts I'd closed in FY 2021 - 22? If one takes out a one year fixed rate savings account and on maturity opts to invest for another year, the saver is issued with a new number. When the Bank notifies HMRC of the interest for the current FY HMRC has no way of knowing that the previous account was closed and as such makes an estimate of the interest earned. If the interest rate was the same for the second year HMRC would be doubling the figure. Thank you