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greenglide wrote: »
Surely it is more likely the bank's failure for telling HMRC that this is a taxable interest bearing account when it isn't?
HMRC won't look at the account name to see if it contains the string "ISA"!
Fatbritabroad wrote: »
Sorry to hijack this but I've judt logged on and as you say no mention of p2p lending or taxable investment account . Most of mines in isas to be fair and the ones that aren't I'm under the allowance limits for interest and dividends but should I still correct them? And how does one go about this?
DennisTenus wrote: »
I did the HMRC webchat today and they removed a couple of accounts for me
I will not be receiving, in pension payments, above the Personal Allowance let alone the Personal Savings Allowance.
Am I being dense (again)? I understood the PSA to be in addition to the PA. Is my understanding incorrect?
So why has HMRC sent me, on paper, a tax code notice showing my PA reducing by the equivalent of the TY2017-18 untaxed interest when it is almost 50% of the £1000 PSA allowed?
2010 wrote: »
I`ve been searching to find the web chat, have you got a link please.
Oh the intricacies of HMRC. My earned / DB pension income this tax year is less than my personal allowance. I also have interest greater than £1000. Should not pay tax. Hmrc changed my tax code to gather tax from interest over £1k even though should not pay it. First person I spoke to denied there was such a thing as the £5000 starter allowance. Next person sorted it out but only by fiddling with tax code. He said the system could not cope with those whose income is less than personal allowance but interest is greater than £1k. He said ring back after 4 Feb when they should have it sorted. Have left it and will ring back next week
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