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    • Dagobert
    • By Dagobert 29th Sep 08, 10:40 PM
    • 1,614Posts
    • 538Thanks
    Lloyds TSB tax certificate error
    • #1
    • 29th Sep 08, 10:40 PM
    Lloyds TSB tax certificate error 29th Sep 08 at 10:40 PM
    This affects people who received TSB's Save the Change incentive in 2006/07 and 2007/08.

    TSB paid participants two incentives up to a maximum of £50 in the March and April 2007 respectively. They paid the incentive net of tax.

    The tax certificate for 2006/07 reflects the March incentive. The tax certificate for 2007/08 doesn't.
    1. Why did they deduct tax at source in the first place? I have never seen an incentive payment treated as if it was interest.
    2. If interest was deducted at source, the 2007/08 certificate needs to be amended. Otherwise, people who pay less than 20% tax in that year can't claim it back.

    It's a pretty sad state of affairs if yiou can't even rely on interest calculations being correct (see Lloyds Classic Plus 6% - is your interest correct this month?).
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