What tax information will be provided in the Cash savings hub?
In general, interest or profit on savings accounts will be paid gross, with no tax deducted. You can learn whether the interest or profit is paid gross or net of tax for a savings account by reading its product information sheet. When the savings account closes, you’ll receive an account maturity confirmation statement. This outlines the total amount of interest or profit you’ve earned, and any tax that’s been deducted.
- 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 make good policy?
- 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?