What is gross interest - IceSave

funkey_monkey

Hi,

I'm in the middle of applying for an IceSave account and its asked me if I want to register for Gross interest.

I think Gross interest applies to people who earn under a certain amount per year.

Is this correct? I earn £25k so I'm guessing I don't want this...?


Thanks.

Aegis

No, you definitely don't. You'd have to be on about 20% of your salary in order to qualify!

tradetime

funkey_monkey wrote: »

Hi,

I'm in the middle of applying for an IceSave account and its asked me if I want to register for Gross interest.

I think Gross interest applies to people who earn under a certain amount per year.

Is this correct? I earn £25k so I'm guessing I don't want this...?


Thanks.

Gross interest option is for people who are entitled to earn interest free of tax, an R85, I think is the form for that, but if you ordinarily pay tax in the UK you do not need this.