Tax Review P810 Archives | Taxfile https://www.taxfile.co.uk/category/tax-review-p810/ Tax advice & accounting services for South London businesses & SMEs Sun, 22 Jun 2008 16:40:00 +0000 en-GB hourly 1 Savings Income and Tax https://www.taxfile.co.uk/2008/06/savings-income-and-tax/ Sun, 22 Jun 2008 16:40:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=5 Savings income is added to your other income and taxed . Banks and building societies are required by law to deduct income tax at 20% from interest before they pay it to you. They pay this to HM Revenue & Customs. This is confirmed by the entry ‘net interest’ on your bank or building society […]

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