questionText: To ask the Chancellor of the Exchequer, whether HMRC plans to take steps to change the (a) taxation of interest on savings and (b) tax system; and what assessment she has made of the potential impact of the tax system on people who pay both (i) PAYE and (ii) tax on savings interest.
answerText: HMRC receives information from banks and building societies about the savings and investment income they have paid to their customers. Where possible, HMRC will match this information to a taxpayer’s record, and calculate any Income Tax due. If necessary,...
heading: Taxation