Mark Gray
Joined: 12/20/2024
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RE: 2024-2025 tax year - Capital Gain tax on Interest from savings
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2024-2025 tax year - Capital Gain tax on Interest from savings
Hi - my mother-in-law opened a 1yr fixed rate bond in Nov 2023 that matured in Nov 2024. The bond paid roughly 5% that equates to just less than £5k in interest. Given the bond was taken out in 2023 and the Capital Gains thresholds changed part way through 2024, how can I check if capital gains tax is now due. Her other taxable incomes (state + spouse pensions) came to just over £32k/yr. Thanks