Can you explain the figure on my annual summary of interest? It is different from what I expected.

The tax year runs from 6th April to 5th April. The figure on your annual summary of interest is a total of the interest paid into your account during this period.
If you have interest paid monthly, you will receive this on the last day of each month. The interest on your summary is the total of these monthly payments. Interest may vary each month depending on the number of days and whether it is a leap year.
If you have interest paid annually, interest is paid into your account on the last day of April each year. This means that the summary you receive in April 2020 will show interest paid into your account in April 2019.
Was this article useful?