achopr

Can you please respond to my questions (a) and (b) above please?

Dear HMRC...got a 3 yr bond and the interest is to be paid into the account at the end of 3 years. BUT..I can close the account at any time to recieve (my capital + pro-rata interest at that point - some penalty). a) do you regard this as having access to interest all the time because technically I can? b) my bank provides me statement with what interest has 'accrued' at the end of each financial year -- just to be clear, the interest is not credited to my account until maturity. I presume the bank provides the accrual statement, so that it is not big burden for me taxwise at the end of 3 years and secondly, it gives me an idea about how much I will get if were to premature my bond. In this case, do I have a choice whether to include accrual interest every year ( because I can access it after penalty i.e. available to me) or submit it as big lumpsum at the end of 3 years?

Dear HMRC, can you please respond to the above question?

what if the bank provides you with an accrued interest statement at the end of each FY, then can you submit accrued interest in your self assessment to even out interest for the duration of the fixed deposit?

is there no general calculation that HMRC follows to change the tax code after additional pension contributions have been made in the previous tax year? Is it 50% of the tax relief or something else? Tried calling HMRC but it cut off saying that we are very busy

I paid in additional 3600 into my pension in 2022-23 and so 900 was credited to my pension and got 900 as SA tax relief (40% tax bracket). Subsequently, my tax code was increased by 450 for 2023-24. what calculation has HMRC used to come up with this figure of 450?