questionText: To ask the Chancellor of the Exchequer, what steps he is taking to ensure consistency of collection of tax on the interest of savings that are not due until maturity of the savings bond.
answerText: The taxation of interest arising on savings bonds depends on the terms and conditions applying to each and may differ as not all savings bonds are the same. Income tax is charged on the full amount of interest ‘arising’ to a person in a tax year and inter...
heading: Personal Savings: Taxation