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Q:

If I want my interest paid net, how do I arrange this?

A:

As part of the pre-election budget in March 2015, the Chancellor announced a series of changes to customer savings. As a result, Banks and Building Societies will only pay interest Gross, i.e. without the deduction of tax with effect from 6th April 2016. If you have any questions about the tax that you pay, please contact HMRC directly, more information is available on their website: https://www.gov.uk/contact-hmrc

 

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