People with £3.5k savings face surprise tax bill letter

People in Lanarkshire with £3500 or more in savings are being warned they may face a surprise tax bill letter from HM Revenue and Customs in the coming weeks.

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HMRC is able to automatically identify interest on savings generated by your bank account and if you go over a certain threshold, you will be sent a notice of an additional tax bill.

With the new tax year 2025-25 having already started, the taxman has been sending out letters to people urging them to register for self-assessment or ordering them to pay extra tax.

As the entire previous financial year is now complete, HMRC is now assessing people’s financial situations and handing out tax bills to those who it finds owe money in tax on savings accounts.