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Topic: Tax rate on UK interest income  (Read 703 times)

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Tax rate on UK interest income
« on: April 11, 2005, 01:03:37 AM »
Hi All,

If I understand correctly, in the UK banks will automatically deduct tax from interest income and just pay you the net amount. But what tax rate is generally used for interest income (from a money market fund etc.)?

Thanks
AMERICAN FREAK!


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Re: Tax rate on UK interest income
« Reply #1 on: May 22, 2005, 09:46:48 AM »
Whatever rate you get taxed on for your income (-personal allowance), so 22% for most of us, 40+ something percent for high earners. 


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