Letter from the INLAND REVENUE!

[Cyberman]

Shares in ISAs and cash all in accounts offset against my mortgage. Gordon Brown, Alastair Darling, HMRC you can kiss my

Same here !! All of my savings are held in an offset mortgage.

[Churchill]

If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?

Unless of course you're doing a "Lester Piggott"...

[MarillionFan]

I have an offset bank account and therefore dont have any interest to pay

[notescontractor]

Will I also need to get certificates from Post office income bond accounts? After all they have only asked for bank and building society accounts.
I've been told not to tell them everything - however I've also been told that honesty is the best policy

Cheers

[Cyberman]

Will I also need to get certificates from Post office income bond accounts? After all they have only asked for bank and building society accounts.
I've been told not to tell them everything - however I've also been told that honesty is the best policy

Cheers

If they have asked for stuff I would be reluctant to hide anything. Their fines can be very nasty..... 100% of tax owed I believe.

[EternalOptimist]

[QUOTE=Churchill;759303]If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?
QUOTE]

It will be the higher rate slice that they are after

[Cyberman]

[QUOTE=EternalOptimist;759449]

If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?
QUOTE]

It will be the higher rate slice that they are after

I told them that yesterday !! Perhaps they should take me off the ignore list !!

[pmeswani]

I told them that yesterday !! Perhaps they should take me off the ignore list !!

I don't think he can see your posts. HTH.

[Cyberman]

I don't think he can see your posts. HTH.

At least, you, my little cuddly friend, are reading them.

[Trev16v]

Same here !! All of my savings are held in an offset mortgage.

I'm with Brookson and, still being a bit wet behind the ears when it comes to tax returns, I use the Tenon service to complete my return. There wasn't anything to shout about on my form for my NatWest current account, as the interest on that was literally just a couple of quid or so. Tenon didn't enter that figure anywhere on the form as far as I could see.

My savings are all in the mortgage offset account, and my understanding is that there is absolutely nothing to declare on the SA tax return as there is technically zero interest on such an account.