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  • RE: Lasting Power of Attorney

    About a year ago myself & my brothers were granted Lasting Power of Attorney in regards our Mother over Health & Finance. This was done just in case our Mother became mentaly unable to deal with these issues. However our Mother is still in sound mind and able to make decisions. Our Mother has suggested that she wants to give myslef and my brothers some of the money she has inherated from our Father after he passed away. We are not keen on this idea but we need more information. Could someone please tell us if what our Mother is proposing and that us accepting large sums of money from her is against the rules of the Lasting Power of Attorney.
  • RE: Reporting savings interest

    So why does the Santander website seem to state otherwise.
  • RE: Reporting savings interest

    I am helping my Mother decide where to invest some money. We have done as much as we can on the ISA's and we are looking at nromal savings accounts. However I have noticed this on summery information for Santander Limited Access Account. Tax status We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this. If the total interest you receive in a tax year is more than any Personal Savings Allowance that applies to you, you may have to pay tax on it. You’ll need to do this directly with HMRC. This suggests that the bank does not contact HMRC and leaves it for us to do this. I also spoke to someone at Santander who seemed to confirm that this is the case. However the government website states the opposite. Can someone please confirm what is the truth.