We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Savings income?

Options
Can someone explain what savings income is please ?

Just received a letter saying I owe £277 tax , I work part time claim carers allowance and did cash in a small pension earlier this year but paid over £2k in tax on it .

Comments

  • sheramber
    sheramber Posts: 22,450 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Any income from savings such as bank interest, dividend payments
  • And the statutory interest paid alongside PPI refunds.
  • Does the letter mention savings income?
    Where is the letter from?
    There are excessive numbers of new types of scams springing up at present
    What we know is far, far less than what we don't know
  • Redredrobin
    Redredrobin Posts: 195 Forumite
    Third Anniversary 100 Posts Name Dropper Photogenic
    It’s a Hmrc letter it has savings income at £3565.00 ?

    going to give them a call 
  • It’s a Hmrc letter it has savings income at £3565.00 ?

    going to give them a call 
    Check the telephone number is a genuine HMRC number
    What we know is far, far less than what we don't know
  • It’s a Hmrc letter it has savings income at £3565.00 ?

    going to give them a call 
    Some Life Insurance contracts generate interest 'income' which can be classified as savings income.  Was there some sort of Life Insurance refund attached to your pension withdrawal?
    What we know is far, far less than what we don't know
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.