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Tax on Savings? confused...
robert_harper_2000
Posts: 1,501 Forumite
in Cutting tax
I heard that for all interest that totals less than £2k it will be taxed @ 10% all above the usual 20%. However I assume as you could have lots of accounts this will amount to lots of paperwork and everyone will be charged 20% and have to claim the difference - if most could be bothered?
Help me to help you :santa2:
0
Comments
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the 10% interest rate on savings only applies if your 'earned' or pension income is less than 5435 + 2320, so it only really applies to people who 'live' off their interest and not to normal workers.
However, if this does apply to you then it will be taxed at 20% as standard and you will have to claim it back from the HMRC.EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0
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