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Tax on interest
adonis10
Posts: 1,810 Forumite
in Cutting tax
Simple question, really. Due to receive annual interest on savings in June 2013, for the year 1 July '12-30 June '13. Clearly, 9/12 of this relates to the 12/13 tax year but as I will be claiming some back (already done the math so no need to question me on this) would I include the full amount in the year it is paid, ie. 13/14 TY or apportion appropriately?
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Comments
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It's taxed in the year it's paid, not the period it's earned.0
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Your right the tax will be due in the tax year 2013/14.0
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