Quick Question About Interest Payments

[panthro]

I am setting up an online saver and its asking me if I would prefer to have my interest paid to me Gross or Net. Which should I choose. I know what they mean but I am unsure how this applies to my interest. Thanks

EDIT: Please Move to GD! Sorry!

 

[Dolph]

*teleports to GD*

If you pay tax then unless it's some form of tax free saving offer (such as an ISA) then you would choose net.

Gross is interest before tax, net is interest after

 

[tenchi-fan]

I assume if you got it paid gross you would have to pay DIRT to the rev comms yourself rather than have the bank deduct it for you.