Following the introduction of the personal savings allowance on 6th April 2016, smile will pay you gross interest on any interest bearing account.
Interest from Individual Savings Accounts (ISAs) doesn’t count towards your Personal Savings Allowance because it’s already tax-free.
The current limits for the Personal Savings Allowance are detailed at https://www.gov.uk.
If you are a Higher Rate or Additional Rate tax payer, or alternatively, complete an annual Self- Assessment then we are no longer able to provide you with an S975 Certificate of Tax as these became obsolete with effect from 6th April 2016.
We can issue a Statement of Interest to you upon request for your smile savings account and we will also be able to issue you with an Annual Statement of Interest for all other accounts should you require this.
To order a tax certificate (interest paid to you before 6th April 2016), or to request annual certificates:
• Log in to online banking and send us a secure message.
For further information on the Personal Savings Allowance or how to calculate your Adjusted Net Income please visit https://www.gov.uk.