Savings Income Savings Investment Income

Savings Income Savings Investment Income

Savings and investment income is taxable.

To help you, we have categorised different types of income tax rules and rates as follows:

• Normal Income Tax - use for all your normal earned and pension income and property income
• Shares Income Tax
• Savings Income Tax
• Life Insurance Income Tax

Different investment income sources are taxed using the relevant rules:

• Bank and Building Society Interest - use Savings Tax rules
• Shares Dividends - use Shares Tax rules
• Unit trusts, Investment Trusts and OEICS income - use Shares Tax rules
• Gilt and Corporate Bond Income  - use Savings Tax rules
• Purchased life Annuity Payments - use Annuity Tax rules
• Life Insurance Income - use Life Insurance rules

Expenses deduction

No deductions are allowable against savings and investment income.

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