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Bank Current account FEE
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wackers
Posts: 1 Newbie
in Cutting tax
I pay fees to get increased interest on some Current accounts
The Interest then has Tax deducted at 20%
Can I offset the FEE against TAX on my Self Assessment Tax return?
I am a newbie so apologies if this is a dumb question or in the wrong place!
The Interest then has Tax deducted at 20%
Can I offset the FEE against TAX on my Self Assessment Tax return?
I am a newbie so apologies if this is a dumb question or in the wrong place!
0
Comments
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I pay fees to get increased interest on some Current accounts
The Interest then has Tax deducted at 20%
Can I offset the FEE against TAX on my Self Assessment Tax return?
I am a newbie so apologies if this is a dumb question or in the wrong place!
I remember well, early one April, being 1 shilling short in my pay packet. We all have to start to learn about tax somewhere.The only thing that is constant is change.0 -
You can't do anything about the fee, but if your earnings happened to be at the right level you could end up paying 10% tax on your interest rather than 20% (and it'll be zero from this year), but it only applies to a relatively small proportion of people.0
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