STELOUhm21*
Joined: 8/7/2024
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Interest savings NS & I
As I understand it you do not need to declare interest on savings below £10,000. Any interest you receive will be taxed through your code based on interest sent directly from the banks and building societies (subject to your £1000 tax allowance.) I have been told by N S & I that they do not inform HMRC of interest on their accounts. How are those who are not completing a SA tax return get taxed on any interest from these accounts?