Nando89
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RE: Clarification on taxes on Saving accounts and National bonds
Hello, Thanks very much for your kind reply. I will register for a self assessment. Just to know, for the current tax year, 2024, I have to submit an online self assessment by 31st January 2025, is this right? May I ask you another question? At the moment, I bought a GILT. If I sell the GILT before its maturity date, will I have to pay taxes on the earnings? or GILTS have a special tax treatment? Thanks very much -
Clarification on taxes on Saving accounts and National bonds
Hello, I am very confused about the following matters, and I tried to understand by searching in the forum, but I found clashing information. I am working as an employee and I have the following investments: - I put some money in a savings account, open this year, (10th April 2024) with an English bank. This account gives a 5% return in a year, so 11th April 2025 - I invested in a French Bond through an online broker, always this year, in June 2024. I sold that bond and I had a return on the investment of about £500. I withdrew this money and deposited it back in my bank account. It's unclear to me what taxes I should pay now, so these are my questions: - For the £500 earned from the French bond, should I fill out a self-assessment form? - What's the tax percentage I should pay on the French bond return? - What will I have to declare when I'll get the 5% back from the savings account? Will this be already taxed? Or should I fill out a new self-assessment, next year? Thanks very much for your help!