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Personal Savings Allowance (PSA)

Why are you no longer deducting tax from my credit interest?

From 6 April 2016 the way customers pay income tax on the interest earned on their accounts has changed.


The Government has changed the regulations, so that from 6 April 2016, we no longer deduct tax from the interest earned on their account. Depending on your circumstances, you may still be liable to pay income tax on your interest. For more information or guidance on whether you are liable to pay tax on the interest earned on your account you can contact HMRC directly. Learn more

Version History
Revision #
7 of 7
Last update:
‎15-06-2017 03:49 PM
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