We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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 account tax
Options

libra10
Posts: 19,577 Forumite


in Cutting tax
Hoping this is the correct board.
I need gross and income paid figures of deposits in a bank account. I have the bank deposit figures and wondered how to work it out. Is the tax deducted for an ordinary rate tax payer 22%?
Therefore for a figure of £100 paid I would multiply by 22%, giving tax paid figure of £22 and gross amount of £122.
Any help much appreciated, thank you
I need gross and income paid figures of deposits in a bank account. I have the bank deposit figures and wondered how to work it out. Is the tax deducted for an ordinary rate tax payer 22%?
Therefore for a figure of £100 paid I would multiply by 22%, giving tax paid figure of £22 and gross amount of £122.
Any help much appreciated, thank you
0
Comments
-
Tax paid at source from the bank is 20%.
So take the net figure, divide it by 8 and multiply by 10 to get the gross figure.0 -
Thanks very much for information Jem, very much appreciated.
Merry Christmas0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

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