Research and analysis
Awareness and understanding of taxation of savings interest
Research to explore awareness and understanding of taxation on savings interest.
Ref: HMRC Research Report 370 PDF, 744KB, 49 pages
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The main objective of this research was to better understand the awareness, understanding and behaviour of customers in relation to taxation on their savings interest. The aims were to explore:
- what drives behaviour and would help more eligible lower income savers to register for gross interest and/or claim back tax they are owed in relation to their savings interest
- what drives behaviour and would encourage more higher rate tax payers to declare and pay the additional tax due on their savings interest, following the initial deduction of 20% under taxation of savings interest
This report contains findings from 35 in-depth interviews and 6 focus groups with a range of customers including students and pensioners.
Published: 20 July 2015
From: HM Revenue & Customs