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  • RE: Reporting savings interest

    Hi, My wife completes a tax return each year as she is self employed. This year, for the first time, her savings interest will exceed her £500 allowed savings interest limit. The interest from a fixed savings account maturing will be approx £4000. I’m unsure whether this needs to be declared on her self assessment as I’ve read that you don’t need to declare the interest unless it exceeds £10,000 as the banks will automatically notify HMRC. Could you please clarify? Thanks
  • Cash Isa maturity

    I opened a 1 year fixed Cash Isa in December 2022 which is shortly due to mature. The maturity options given by the bank are: - transfer to a new easy access cash Isa - transfer to a new 1 year fixed Isa - transfer to a new (non Isa) savings account - withdraw the money I’d ideally like to transfer to a new 1 year fixed Isa, but at the end of April 2023 I opened a 1 year fixed rate Isa with a different provider. Am I allowed to take the ‘transfer to a new 1 year fixed rate Isa’ or is this not allowed as I already have an Isa for 2023/2024? Both of these ISAs mentioned have the maximum of £20,000 Thanks