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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I wonder if you could please advise me over the following

Resolved Question:

Hello,
I wonder if you could please advise me over the following query?
I have recently sold my property and am thinking about investing the money from the sale of my property in a National Savings Income Bond.
I am a taxpayer, in full - time employment and I understand that with a National Savings Income Bond tax on the interest that I would earn would not be automatically deducted, so I would need to declare the interest to HM Revenue and Customs myself and then pay any tax due.
I would be grateful if you could please tell me how I should go about declaring to HM Revenue and Customs any such interest that I would earn?
(I have tried looking on the HM Revenue and Customs website but I found it very confusing!)
Thank you
Lucy
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Lucy, thank you for your questionYou would report interest received from National Savings & investment accounts in Box 2 (gross amount received) of the main tax return under UK interest etc.More information on this can be found on Page TRG4 of Tax Return notes herehttps://www.gov.uk/government/uploads/system/uploads/attachment_data/file/454496/sa150-notes_2015.pdf I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
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Expert:  taxadvisor.uk replied 1 year ago.
I thank you for accepting my answer.
Best wishes.