Received Gross or Net - Personal Tax

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speckled_00
speckled_00 Registered Posts: 21 New contributor 🐸
in AAT Level 4 (Level 8 in Scotland)
Hi all

I'm studying personal tax at the moment and have my cba next Thursday and am completely confused on what is received gross and what is received net with regards to NS&I savings/investments/bonds etc etc.

There doesn't seem to be any rules on this or extensive lists to be able to learn.

Can anyone help me with this?

Thanks!!

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  • pirate
    pirate Registered Posts: 469 Dedicated contributor 🦉
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    As far as I know all NS&I accounts the interest is paid gross this includes investments and easy access.
    Their ISAs (just like others) are tax free and Premium Bonds are tax free but their other accounts and bonds are paid gross but are not tax exempt

    HTH

    K
  • jenny3549
    jenny3549 Registered Posts: 472 Dedicated contributor 🦉
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    They are usually gross (investments accounts and Easy Access Savings Accounts) but watch out for the NSI Savings Bond - which is net!

    I know, they are a nightmare to try and keep straight in your head - I had to get my boyfriend to test me on them - felt like I was back at school.

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