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paying tax on savings
naughtynave
Posts: 8 Forumite
i am a full time student and i was looking to open the 10% regular savings account and i was wondering do i have to pay tax or not?
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Comments
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sorry the regular savings account is from halifax0
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How much do you earn per year? If its more than your personal allowance, £5440 I think, then yes, otherwise no.0
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If you earn less than £5435, you do not need to pay tax so will need to hand an R85 form in to get interest paid gross.
http://www.hmrc.gov.uk/forms/r85.pdf0
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