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Posted Tue, 24 Dec 2024 09:04:30 GMT by MCMC Ching
I have earned 18250 income from 2023-2024, and I have already paid the tax. However, I have earned about 2000 interest from savings account. Do I need to resubmit to HMRC?If I need to resubmit this amount of interest to HMRC, how can I do it ?
Posted Tue, 07 Jan 2025 10:01:11 GMT by HMRC Admin 1 Response

If you are employed or receive a pension and earn interest over your personal allowance but under £10,000 (You need to register for Self-Assessment if your income from savings and investments is over £10,000 in the financial year) and are employed or receive a pension, HMRC will change your tax code so you pay the tax due automatically.

The code for the current year will be based on how much interest you had in the previous year.

Further information can be found here: https://www.gov.uk/apply-tax-free-interest-on-savings

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