Taxation
Commons · Question 57758 · Tabled 5 Jun 2025 · Treasury · Official record
Answered 11 Jun 2025
Question
Asked by Andrew Snowden
To ask the Chancellor of the Exchequer, whether HMRC plans to take steps to change the (a) taxation of interest on savings and (b) tax system; and what assessment she has made of the potential impact of the tax system on people who pay both (i) PAYE and (
Answer
Answered by Emma Reynolds, 11 Jun 2025
HMRC receives information from banks and building societies about the savings and investment income they have paid to their customers. Where possible, HMRC will match this information to a taxpayer’s record, and calculate any Income Tax due. If necessary,...