Paying tax on savings interest.

dales1

https://forums.moneysavingexpert.com/discussion/comment/81975005#Comment_81975005

That's it !! I make sure to have capital gains to report every year of about £3,100 or so (ie above the £3,000 exemption). So I have slight CGT to declare, which keeps me within self-assessment, which avoids the grief of people whose actual interest income differs from HMRC figures, and also avoid my tax code being reduced by HMRC’s estimated interest (if you tick the 2 boxes on the SA return for this).

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81975151#Comment_81975151

Or in my case as from this tax year my taxable interest will be <£1000, so around about November 2027, the issue about estimated interest/tax codes should finally wash out of my tax account .