Tax Year End

The Tax or fiscal year in the UK runs between 6th April and 5th April the following year.

This page provides information relating to any common enquiries you may have regarding tax-affected accounts.

Tax paying eligibility
All tax-paying customers suffer income tax at source on the interest they earn on their savings accounts, unless they are eligible to register to receive their interest gross as a UK non tax-payer or not ordinarily resident in the UK for tax purposes.  If you're a non-tax paying customer it is your responsibility to notify us by calling 08456 00 08 79 (Lines open 8am to 8pm Monday to Friday and 9am to 4pm Saturday), or letting us know in branch.

Customers with ISAs are not required to pay tax on the interest they earn.  To find out more about ISAs, click here.

If you're unsure of your tax paying status we advise you to contact Her Majesty's Revenue & Customs (HMRC) as we are unable to provide tax advice.

HMRC is the governmental department responsible for the collection of taxes, and will be able to provide help and advice regarding the tax payable on your savings.

The following links may be of use:

HMRC home page
HMRC tax year end information
HMRC contact details

ISA Limits
For information on the amounts that can be invested in our tax efficient ISA products please click here.

If you have any queries relating to ISA products please call 08456 00 01 69 (Lines open 8am to 8pm Monday to Friday and 9am to 1pm Saturday).

ISA Changes 2008
The Government has introduced new rules relating to ISA products for the new tax year beginning 6th April 2008.  To find out more about these changes click here.

Tax Certificates
Customers who pay tax on their savings will require a tax certificate in order to complete their tax returns.

Tax certificates are sent out automatically between April and June 2008 to all tax paying customers that hold an eligible account as part of the tax year end mail pack.  If you do not receive one during this period, you can request one at any time by calling us on 08456 00 08 79 (Lines open 8am to 8pm Monday to Friday and 9am to 4pm Saturday), downloading a tax certificate request form, or visiting any branch.

All tax certificates are sent out free of charge.

Tax Certificates for joint accounts
Tax certificates for joint accounts are only sent to the 1st named customer, no tax certificates are issued to the 2nd named customer.  If both account holders require a claim for repayment of tax HMRC will accept the tax certificate and then, upon request, return it to you.  This will enable the other customer to make their claim.

Customers that hold both qualifying sole and joint accounts will be mailed separately for their joint and sole accounts.

Tax payable on Children's Accounts
If the payments into a child's account are made by the parents, then the allowance of accrued interest is £100 per year, for each parent paying into the account.  If the interest exceeds £100 per year, the whole amount is taxable on the parent not just the excess over £100.

Please note that children's accounts will incur tax at the standard rate unless they have been registered as gross.  It is your responsibility to notify us of the child's tax-paying status by calling 08456 00 08 79 (Lines open 8am to 8pm Monday to Friday and 9am to 4pm Saturday), or letting us know in branch.

Tax year end mail pack
The tax year end mail pack will be sent out to customers between April and June 2008.  The pack will include:

• A covering letter
• A tax certificate
• A tax certificate booklet

Visually impaired customers
Visually impaired customers will receive a mail pack include the standard letters as well as versions in the format they have requested e.g. large print, audio or brail.

If you require the mail pack in one of the formats above, you can arrange this in branch or by calling 08456 00 08 79 (Lines open 8am to 8pm Monday to Friday and 9am to 4pm Saturday), or visiting your local branch.

Deceased customers
All accounts with the titles of deceased, executor or Personal Representatives will not be issued a mail pack unless they have requested a tax certificate previously. They will also receive a tax certificate upon closure.  Any mail that is sent out to deceased accounts will be sent to the address we hold on our records.