I'm not a natural when it comes to finances so am keen not to get myself into a mess with money.
I'm looking to cash in some cash ISA's and reinvest some of the money into a savings account or two, paying better interest rates.
As ISA's are tax free, I've never concerned myself with the tax issue but, if I earn over the threshold in interest with new savings accounts, how is any tax due paid?
Is it just deducted by the bank/building society before the interest is credited to the account or do I have to tell someone and fill forms in?
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Paying tax on interest earned.
3 replies
Wingedharpy · 01/05/2022 13:12
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