Best savings account?

You dont need to do a tax return on low sums if you dont already do one. Honestly people try and over complicate it. Just pay what they ask when you get the letter or manage it through your personal tax account. You should be keeping your own sums of interest paid over the tax free allowances and be ready to pay it.
 
beachBOYken said:
Im not up to scratch on all this, but why would they do that?

Its only some savings I had that were not tax free, Im not a high earner or anything, I will have more in tax free saving soon, so not why they would demand tax returns.
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Yeah you're right it does make sense not to and simply to rely on reporting from banks, which I presume is how that works. I think I just have a bit of a jaded view of HMRC that I probably need to calibrate back to reality!
 
200sols said:
You dont need to do a tax return on low sums if you dont already do one. Honestly people try and over complicate it. Just pay what they ask when you get the letter or manage it through your personal tax account. You should be keeping your own sums of interest paid over the tax free allowances and be ready to pay it.
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That’s what I did yesterday, created a personal tax account and paid what I owed.
 
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