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Interest returns: banks and building societies

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HMRC has updated its guidance for banks and building societies that submit taxpayers’ interest returns, including publishing a new bulletin and refreshed guidance notes for the returns.

HMRC requires financial institutions in the UK to return information about the interest earned or credited to accounts of UK residents, under FA 2011 Sch 23. The Bank and building society interest returns (formerly known as Type 17 returns) guidance was refreshed in February 2021. ‘Other interest’ returns (formerly known as Type 18 returns) can be submitted following existing guidance published for 2018–19 onwards.

Issue: 1522
Categories: News