Tax on savings?

carlbhoy

I have come into some money from my mothers will, I will be investing it in a bank account, so it will create interest, over the £1000 limit. 

My question is do I have to inform the tax office, or will they notify me, of how much I need to pay
I am retired, but occasionally do part time work, but earn no where near the £12,750 allowance

Dazed_and_C0nfused

In which case you can probably forget the "£1,000 limit" as you cannot benefit from it, it's not something people with low income can use.

You have to have used your Personal Allowance and the savings starter rate band (upto £5,000 interest taxed at 0%) before the £1,000 savings nil rate band (aka Personal Savings Allowance) can be used.

Do you have have any pension income at all?

Is your total earnings and pension going to be less than £12,570?

Have you applied for Marriage Allowance?