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Posted Sun, 29 Dec 2024 19:36:25 GMT by SloeGin
If the gross interest on my savings is £9,000 in the relevant tax year, do I delare in my SA Tax Return: (a) £9,000 and HMRC will deduct the £1,000 PSA and calculate tax on the balance of £8,000; or (b) £8,000 (having "deducted" the £1k PSA myself first)? I have written twice to HMRC about this and never got a response by post, and can never get through to the HMRC phone line. Many thanks for your guidance.
Posted Tue, 14 Jan 2025 12:36:17 GMT by HMRC Admin 8 Response
Hi,
You would declare the gross interest figure £9000.
On your calculation you will receive the personal savings allowance. 
Thankyou.
Posted Tue, 14 Jan 2025 14:23:08 GMT by SHA
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