Hi,
Got (hopefully) a simple question. Sorry if this is in the wrong section. ![]()
Does Monzo automatically report savings interest from an Instant Access Savings Pot?
Thanks.
Hey Norbert. Welcome to the community.
Could you be more specific?
I’m pretty certain that all UK regulated banks will report interest amounts to HMRC
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yes they do and as monzo is a uk regulated bank it would be safe to say they do this
So fun thing, HMRC are trying to give me a tax refund because they think I’ve earned less interest in 24/25 than I actually have and as a result they think I’ve paid too much tax.
I called HMRC up and they have interest reported to them from Santander and Goldman / Marcus, but nothing from Monzo.
I’m aware I need to pay tax and shouldn’t be getting this refund, but I have no way of paying the tax until Monzo report the data to HMRC. I’ve reached out via chat to try and find out what’s going on.