How is the interest or profit I receive in my Cash savings hub taxed?
Our panel of banks will pay interest or profit gross of tax. You can check the Savings account factsheets to find out more. The interest or profit you earn from savings accounts in your Cash savings hub counts towards your Personal Savings Allowance. If the interest you earn exceeds this allowance, you’re responsible for paying any tax you owe to HM Revenue and Customs.
- What is the make good policy?
- How does the Cash savings hub work?
- How long does it take for payments to clear into/from my transit account?
- What types of notice accounts are available in the Cash savings hub?
- What is the minimum amount I need to deposit to open a Cash savings hub?
- How do I find out my transit account sort code and account number?