Declare YBS small change big difference on self assessment?

sherbie28

Hi,

Helping my dad fill out his self assessment online for 25/26. Having never done it before I'm just wondering if the 65p interest which YBS take for the SCBD charity needs to be declared in the 'did you give money to charity ' section. Thanks

uknick

How does it make a big difference to the tax return? Does it move them into a higher tax band and therefore affect things such as the nil rate band for savings?

But, back to your example, I'd exclude the 65p as I never received it. Google AI seems to agree with this;

"If you are referring to the Yorkshire Building Society’s Small Change Big Difference (SCBD) scheme, you do not need to list these micro-donations on your tax return or claim tax relief. Because the SCBD scheme works by automatically donating the pence of interest from your savings or mortgage accounts (maximum of 99p per year), the amount is deducted before the interest reaches you. This means no tax is reclaimed on this amount and you don't receive a tax benefit."

sherbie28

Not being used to how everything works I'm just concerned about leaving something blank that I should fill in.

DRS1

I think you can only claim a tax deduction for a charitable donation if you gift aid it. Does this small change thing mention gift aid?

Does the account show your father getting the 65p and then it being deducted? Or does it just never appear? If it never appears then you don't include it in his savings income and you don't claim any tax deduction for a charitable gift.