NCBS Index Linked Savings Bonds & Tax ?

Ballard

xylophone wrote: »

The rule that allowed interest on certain fixed term deposits of £50,000 or more to be paid gross was repealed from the start of 2012/13 for new deposits, but the rule continues to apply to deposits made before 6 April 2012.

This is savings income paid gross but is taxable according to normal rules.

Okay, thanks. The last time that I was involved in this area would have been around 2010/11 ish.

badger09

I had Issue 2 of this 5 year Index Linked Bond, which matured 1st December.

My interest was taxed as expected.


Unless OP completed R85 on application (if that was even possible?), then xylophone is most likely correct:)

planteria

i didn't know that certain bonds were paid gross by building societies.

i'm a member of NCBS, but just with a tax-paying (for now:cool:) passbook account.

sounds as though those receiving untaxed payments ought to declare them on their tax return.

unnecessarily harsh from bigfreddiel:doh: