Declaring interest earned on 1 Year Bonds

Primrose

I'm a little confused on how one has to declare interest on a One Year Fixed Rate savings bonds which straddles two tax years.
Do you have to ask the provider for a certificate for that portion of the interest which just covers the year in question for which you have to submit a tax return, or do you wait until the bond matures and then declare the whole amount of tax earned on maturity in that specific tax year?

cheerfulcat

Hi, Primrose,

It depends on when the interest is paid. If it's monthly you need to declare that portion paid in each tax year. If it's on maturity, you declare it in the year it matures.

Primrose

Many thanks.