Is Tax Automatically Deducted from Saving's Interest?

ColdIron

If you already self assess you should declare it. Most people don't self assess so using tax coding is the easiest way for HMRC to recoup any tax due. SA has the advantage that you know the figure is correct

When completing your declaration you will get a choice of how you want it to be collected, tax code or simply pay the bill by 31st Jan. So you still have the option to do nothing should you wish but I find paying direct is much cleaner and you know where you stand by drawing a line and starting afresh each year