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Author Tax on Interest
Kathryn W
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Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
23rd Oct 07 at 12:02   View User's Profile U2U Member Reply With Quote
Is this normal to be taxed on the interest you recieve while your money is in the bank??
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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23rd Oct 07 at 12:04   View User's Profile U2U Member Reply With Quote
Yes.

Unless you're a student then again, most students don't have enough in their account to be taxed.
pow
Premium Member

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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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23rd Oct 07 at 12:05   View Garage View User's Profile U2U Member Reply With Quote
Bloody Students
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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23rd Oct 07 at 12:06   View User's Profile U2U Member Reply With Quote


Bloody ICT technicians.
Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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23rd Oct 07 at 12:07   View User's Profile U2U Member Reply With Quote
Depends on the amount your earning, if your earning, too.
andy1868
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Registered: 22nd Jun 06
Location: Burscough, Lancashire
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23rd Oct 07 at 12:07   View User's Profile U2U Member Reply With Quote
bloody students, with your drugs, and your and your make-out parties
Kathryn W
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Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
23rd Oct 07 at 12:11   View User's Profile U2U Member Reply With Quote
Ah its just I got a letter through this morning saying i need to inform my bank, thought it was strange as it wasnt the most informative piece of paper.

Is it just the interest that you earn that gets taxed?
Fonz
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Registered: 12th May 06
Location: Newbury, Berks
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23rd Oct 07 at 12:12   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by andy1868
bloody students, with your drugs, and your and your make-out parties


*sighs*

i miss those days!!
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
23rd Oct 07 at 12:14   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Kathryn W
Ah its just I got a letter through this morning saying i need to inform my bank, thought it was strange as it wasnt the most informative piece of paper.

Is it just the interest that you earn that gets taxed?

Yeah - I got that too, from HM Revenue & Customs? Basically, if you're earning, you should pay interest on your current account. If you've never filled in a form to not pay interest, it's more than likely you pay interest anyway.
Kathryn W
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Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
23rd Oct 07 at 12:15   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by deano87
quote:
Originally posted by Kathryn W
Ah its just I got a letter through this morning saying i need to inform my bank, thought it was strange as it wasnt the most informative piece of paper.

Is it just the interest that you earn that gets taxed?

Yeah - I got that too, from HM Revenue & Customs? Basically, if you're earning, you should pay interest on your current account. If you've never filled in a form to not pay interest, it's more than likely you pay interest anyway.


Aye! I've never filled in a form

Ill have to visit my bank at the weekend and see what they say.

I still need to send of a form to say how much i should be taxed, although i think its right at the minute.

Bloody Government mythering me to pinch my money
JM_16v
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Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
23rd Oct 07 at 12:15   View User's Profile U2U Member Reply With Quote
im a student and i dont get any student advantages
Kurt
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Registered: 23rd Oct 05
Location: Hi
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23rd Oct 07 at 12:15   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Kathryn W
Ah its just I got a letter through this morning saying i need to inform my bank, thought it was strange as it wasnt the most informative piece of paper.

Is it just the interest that you earn that gets taxed?


i had one of those, i chucked it away

 
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