We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
2016 tax savings on interest
Flydrive
Posts: 18 Forumite
in Cutting tax
Will the £1000 relief apply to interest earned or paid in 2016 i.e. if I have a 2 year bond due to mature in May 2016 will all the interst up to £1000 be tax free?
0
Comments
-
Paid.
But you may find that interest is paid into your account annually.0 -
Will the £1000 relief apply to interest earned or paid in 2016 i.e. if I have a 2 year bond due to mature in May 2016 will all the interst up to £1000 be tax free?
Interest is taxable on the date it is actually received. This is the date it is added to the bond so if the first years interest was added to the bond in May 2015, it is taxable in 2015/16,
even though you cannot get your hands on the money until May 2016The only thing that is constant is change.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards