Do I have to declare interest to HMRC....

eskbanker

kjs31 said:

eskbanker said:

I'd say it's somewhat clearer than 'seem to imply'!

You need to register for Self Assessment if your income from savings and investments is over £10,000.

https://www.gov.uk/apply-tax-free-interest-on-savings

If you haven’t ever been asked to do a self assessment form before it’s not abundantly clear that you need to register for self assessment.

As you might expect, I disagree - it literally says that "you need to register for self assessment", which will obviously only apply if you haven't previously done so!

kjs31 said:
I only really knew because I read these forums - I had assumed that HMRC would see from the data feeds that I needed to complete one and send it automatically. In the past savings interest has been pitiful so I haven’t had to bother but this year having house funds on deposit and interest rates pretty decent will be different. 

Anyway, I’ve registered now. I dare say that 1000s will not register or know that they have to. 

The fact that people may not have seen the HMRC information, or not even recognise that they should go looking for it, is a separate matter, so yes, I'm sure you're right that many won't have read it, but my point was that the guidance itself is clear for those reading it, rather than needing to interpret an implication.