drob4 wrote: »
I have an Al Rayan 1 year fixed term deposit, maturing June 2020. I requested the interest to be paid along with the return of capital in June when the term ends.
I've received two statements from Al Rayan (in Sept and Dec) showing the quarterly interest has been added to my initial deposit. Do I treat this as receving interest in the current tax year (any previous fixed term deposit has just paid the interest in a lump sum at the end of the term)?
Grateful for any advice.
youngretired wrote: »
Kent Reliance fixed bonds credit interest on the 5th April and then at the end of the period.
This was a surprise as we thought fixed bonds were paid on the maturity of the bond. Therefore it is best to ask the bank if they will be submitting the information to HMRC, so you know for a fact.
2010 wrote: »
It will be in the T&C when interest is paid.
schiff wrote: »
Isn't it also to be withdrawable at the time it's added?
badger09 wrote: »
Nothing posted since my last post
has changed my mind about participating in this fiasco.
I too have had my figures accepted, received revised P800s & coding notices, only to have them later revised to include incorrect interest.
I've provided detailed breakdown of my multiple accounts for 2017/18 and 2018/19 and am giving them 1 last chance to get the figures right, repay my overpayment and correct this year's coding, which will result in another repayment.
Next step will be formal complaints process:mad:.
...checkout-free supermarket store
Plus what to do if you're a victim
The Body Shop, Holland & Barrett etc