HMRC savings interest tax notices: check the figures before paying

HM Revenue & Customs says it will start issuing tax calculations and notices from late September 2026 to some people who owe tax on bank or building society interest from the 2025–26 tax year. If one arrives, check the interest figures, any earlier payment and the way HMRC says the tax will be collected before paying. Receiving interest does not, by itself, mean you owe tax.

Who may receive a savings interest notice

The notices concern interest earned between 6 April 2025 and 5 April 2026. HMRC says affected people may receive a P800 tax calculation or a PA302 Simple Assessment. The late-September date marks the start of issuing notices; it does not mean every recipient will have one immediately.

Read the document’s title and payment instructions carefully. A Simple Assessment sets out an amount HMRC says you need to pay. A P800 is a tax calculation; check whether it says you must make a payment or whether HMRC intends to collect an amount through a change to your tax code. Do not treat a tax-code adjustment as a separate bill without checking the calculation.

Check the interest and any earlier payment

Compare the notice with interest statements or annual summaries from each bank and building society for the 2025–26 tax year. Check that the amounts belong to that year and that the calculation includes only your interest. If you held several accounts, check each one before deciding a figure is missing or duplicated.

Also look for any earlier notice for the same tax year and keep its payment confirmation to hand. HMRC says some people may receive a second Simple Assessment after interest information arrives. That second notice can show the year’s total tax liability, including an amount shown on the first notice even if it has already been paid. A repeated annual total is therefore a reason to reconcile the notices and payments, rather than assume the whole amount is a new charge.

If the calculation looks wrong

GOV.UK lets recipients check a Simple Assessment calculation online. If you think its information is wrong, contact HMRC within 60 days. Explain which interest figure or earlier payment you are querying, and have the relevant statements, notices and payment reference available.

If the figures are right, follow the payment instructions and deadline on your notice. GOV.UK says Simple Assessment payment deadlines depend on when the letter is received. Before making a second payment, check whether HMRC has accounted for anything you have already paid. You can review the Simple Assessment guidance and use the contact route given there or on your notice.

Source: HM Revenue & Customs