Consultation outcome

Deduction of income tax from savings income: implementation of the Personal Savings Allowance

• From: HM Revenue & Customs
• Published: 15 July 2015
• Last updated: 9 December 2015 — See all updates

This consultation has concluded

Download the full outcome

Deduction of income tax from savings income: implementation of the Personal Savings Allowance - summary of responses

PDF, 330 KB, 21 pages

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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.

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Original consultation

Summary

HM Revenue & Customs invites comments on possible changes to rules on deduction of tax from savings income.

This consultation ran from
10:30am on 15 July 2015 to 11:59pm on 17 September 2015

Consultation description

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.

Documents

Deduction of income tax from savings income: implementation of the Personal Savings Allowance

PDF, 356 KB, 26 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 15 July 2015
Last updated 9 December 2015 + show all updates

1. 9 December 2015

   Summary of responses published.

2. 15 July 2015

   First published.