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Save The Change
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winderdef
Posts: 29 Forumite

Hi,I have been in the Save The Change scheme for many yes now,and it's accrued a rather large sum
Do I have to declare it as income?
Thank you for any advice
Do I have to declare it as income?
Thank you for any advice
0
Comments
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Do you mean Save the Change with Lloyds/Halifax? The bulk of the account balance will have been rounded up from the spending on your debit card, so it's not extra income; it's money you already had. The interest on it would count as income, like any other interest.0
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Thank you Earthboy,it's Lloyds.
Does save the change accrue interest?0 -
Yes. Check the account where the change is being saved, and it should show interest monthly, quarterly, or annually, depending on the type of account.0
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