Bank interest on personal tax account online

badmemory

I wonder if that same media would even raise an eyebrow let alone print an article, when the unwary start getting fined because their bank (possibly) got it wrong & HMRC added it up wrong. Even when it still means no tax is payable.


Thankfully I made them put the amended interest in writing. Without that I would have no idea if they had actually bothered correcting their records.

polymaff

Oh, when they've got some poor so-and-so, primed to blub into the microphone, BBC "Money Box" will be there with its faux indignancy.

I switched to writing very early on with NS&I - and when they'd sufficiently demonstrated their comprehensive ignorance of the law's demands - and of basic banking/accountancy/common sense I turned the core of that over to HMT and demanded that they take action.

Since then I - and others - have received masses of paperwork as NS&I try to extricate themselves; most of the paperwork being withdrawals of the immediately preceding nonsense paperwork!

And, in the best of Civil Service tradition, NS&I will still not agree to change their procedure that has caused all this disruption.

badmemory

I haven't got the "luxury" of blaming NS & I for last year. I cannot get any selection of amounts of interest on my accounts to add up to £92 & I did really try even going across different banks. Maybe HMRC just waved their magic wand!

Dazed_and_confused

badmemory wrote: »

I haven't got the "luxury" of blaming NS & I for last year. I cannot get any selection of amounts of interest on my accounts to add up to £92 & I did really try even going across different banks. Maybe HMRC just waved their magic wand!

What was the interest (untaxed or grossed up amount of taxed interest) on the last Self Assessment return you filed?

badmemory

Dazed_and_confused wrote: »

What was the interest (untaxed or grossed up amount of taxed interest) on the last Self Assessment return you filed?

Over £900, so absolutely no logic to their figure.



When I first got the letter telling me I did not need to file SA anymore as they would receive all the figures direct I actually rang HMRC to check & they assured me they would receive the figures. I told the person I spoke to that I didn't think they would get it right, sometimes you really don't want to be proved right!