Tax on annual fixed rate bonds

Bromley86

Sorry if this is obvious, but I'm just trying to understand when tax is paid on an annual interest payment for people paying the standard 20% deducted at source.

Is it when it is earnt or when it is credited to the account?

Does this change if you fill in a tax return. i.e, assuming that the tax is normally paid when the interest is physically credited, HMR&C might be content to muddle along with that but might demand "correct" accounting if a tax return is submitted.

Thanks.

EDIT: Answering my question:
"You pay tax on your interest in the tax year that the interest is paid to you (or credited to your account) even if part of it has accrued in previous tax years."

Lokolo

It is when it is credited to the account.

This year I am a taxpayer, next year I am not. So I have moved all my interest payment dates to after April 6th to get 20% extra :T