Paying tax on investments

musashi10

Hi, so I started saving properly 1 year ago. Most of which is in an ISA, so I don't worry about tax.

But I have a small amount not in an ISA which with interst made £11!!!! I have never had to do any tax before for investments, so I need to fill out a form and declare this???

vectistim

If you're a basic rate tax payer probably not (as interest will typically have been paid net of basic rate, and dividends have a notional tax credit before you receive them). If you're a higher rate tax payer you will need to tell them to pay the extra.

musashi10

Thanks and which form do I need to fill out please?

TCA

If you're a higher rate tax payer you will need to complete a self-assessment tax return.

Archi_Bald

You can check this https://www.gov.uk/check-if-you-need-a-tax-return, or call the HMRC and ask.