Download the full outcome
Detail of outcome
This document summarises responses to our consultation on deduction of tax from savings income other than bank and building society interest following introduction of the Personal Savings Allowance.
The Personal Savings Allowance will be introduced from 6 April 2016, as announced in the March 2015 Budget.
As a consequence, tax will no longer be deducted at source from bank and building society interest.
HM Revenue & Customs (HMRC) is considering changes to rules on deduction of tax from other types of savings income as well.
This consultation seeks views on a series of options, ranging from retention of existing rules to outright abolition.