Ok, maybe not the best forum for this but us avid money savers should know our stuff about tax, even if I don't.
Right the situation I'm in is as follows: My earnings from the current Tax year are below the personal allowance, so in theory I can claim back my tax at the end of the year as I have now stopped working and am a student. Hower I have a savings account, and am wondering if the interest I earn of this will be included in my "income" and therefore may push me over the personal allowance. http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnSavingsAndInvestments/DG_4015739
This link is the nearest I can find to an answer, but I can't make sense of it...if anyone has any knowledge of this then please share it with me, I have ~£900 resting on this :(
Just to add I didn't stop just shy of the personal allowance on purpose, it just happened this way, and I'll be gutted if my savings account ends up losing me money..
second alternative is calling them and just asking, has anyone had experience with them? Are they helpful?
Any help appreciated?