Just a quick heads-up people – the deadline for submitting your electronic deadline is fast approaching – 23.59 hours on Tuesday 31st January 2012. This is the deadline for submitting your electronic return (paper returns were due in by 31st october 2011) for the 2010/11 tax year. It’s also the deadline for payments due in […]
This evening I received an email purportedly to be from HMRC in respect of a tax refund. The opening to the email is as follows: “Dear Applicant We have reviwed your tax return and our calculations of your last years accounts a tax refund of GBP 178.25 is due.” You will notice that there are […]
Hey folks – it’s that great time of year again when we all panic about getting our tax returns in to HMRC (those of us who complete a tax return that is).
As most non-taxpayers will know, interest on bank and building society accounts is paid net of tax at 20% – savings rate tax.
Unless you complete a Self-Assessment tax return the only way to ensure that you are not paying unnecessary income tax on your bank or building society accounts is to register for payment of interest on their savings accounts without any tax deducted.