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Gross interest
adonis10
Posts: 1,811 Forumite
I assume one has to contact the bank and register for gross interest, or are they doing it automatically and relying on people to fill out a tax return if they have a tax liability?
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Comments
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It's the latter, as per http://www.moneysavingexpert.com/news/savings/2016/04/all-savings-now-to-be-paid-tax-free....0
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No more tax certificates, as well, presumably, since they haven't deducted any tax.
I just know there will be some spontaneous leftover interest amount like £1.27 appearing in old accounts, which I will miss.
And then they send me a warning letter: "You under reported by £1.27, you tax evading scum." :eek:0
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