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Will >£1000 interest mean I have to do a full tax-return?
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Sounds like the value of High Interest Current Accounts is dropping further with this claw back in tax on interest...
Save 12K in 2020 # 38 £0/£20,0000 -
Sounds like the value of High Interest Current Accounts is dropping further with this claw back in tax on interest...
In previous years tax was deducted at source and non-taxpayers had to fill in forms; now non-taxpayers don't have to do anything, nor do those taxpayers whose interest is covered by their allowance; the rest need to notify HMRC and pay the tax due, but most of them are still £200 (20% of £1000 PSA) better off than they would have been under the previous system.Eco Miser
Saving money for well over half a century0
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