LittleBear
Member of DD Central
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Post by LittleBear on Jan 15, 2019 11:40:34 GMT
My tax statement has the following three headings:
Total Interest Earned
Total Interest Adjustment
Total Bonus
What is the interest adjustment?
Which of these figures do I need to declare to HMRC?
Many thanks!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 15, 2019 11:54:10 GMT
Interest adjustment is probably where a technical error prevented correct interest being paid on loans where the rate changed during the loan term and a one off payment was made to correct on a random date.
Its all interest so all declarable so cumulative sum of all three.(not advice, speak to a tax advisor etc)
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Post by picanto on Jan 15, 2019 12:13:20 GMT
Interest adjustment is probably where a technical error prevented correct interest being paid on loans where the rate changed during the loan term and a one off payment was made to correct on a random date. Its all interest so all declarable so cumulative sum of all three.(not advice, speak to a tax advisor etc) Correct. I was wondering why I had an interest adjustment when I looked at my tax statement and went through my transactions list and found I had an interest adjustment on DFL014 when the interest rate increased from 12% to 13% earlier last year.
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LittleBear
Member of DD Central
Posts: 98
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Post by LittleBear on Jan 15, 2019 12:44:16 GMT
Thank you. That's what I thought, but nice for others to confirm  |
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