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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Existing account and 2016 tax free savings allowance
jaik
Posts: 7 Forumite
Given the tax free savings allowance coming into effect in April 2016, and assuming my total interest earnt is within the allowance, I'm wondering about existing accounts.
If I open a savings account now that matures in 1 year (ie, after April 2016) and pays interest at that point, would I pay tax on some of the interest (ie, the interest accrued between now and April) or would it all be tax free?
If I open a savings account now that matures in 1 year (ie, after April 2016) and pays interest at that point, would I pay tax on some of the interest (ie, the interest accrued between now and April) or would it all be tax free?
0
Comments
-
If I open a savings account now that matures in 1 year (ie, after April 2016) and pays interest at that point, would I pay tax on some of the interest (ie, the interest accrued between now and April) or would it all be tax free?
It's when the interest is paid so it would be tax free.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards