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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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ItyNational savings over 65 3 year growth bonds. Is income

Customer Question

ityNational savings over 65 3 year growth bonds. Is income tax payable on the income accruing but not received until maturity?
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question.

Interest on a three year bond is added on each anniversary of investment.

You should report interest in the year it is added to your investment and not until the maturity date.

More information is attached here

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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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