Gross interest is the rate payable to you. We will not take tax off the interest you earn. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC.
Basic rate taxpayers can earn up to £1,000 interest on savings tax free.
Higher rate taxpayers can earn up to £500 interest on savings tax free.
Additional rate taxpayers will pay tax on all savings interest earned.
The FCA regulate financial services firms in the UK, including banks and building societies, mortgage and insurance brokers and financial advisers. It offers services to consumers including complaints procedures, avoiding scams and protection of your rights.
Contact the Citizens Advice consumer helpline on 03444 111 444 if you need help - a trained adviser can give you advice over the phone.
Set up by parliament the Financial Ombudsman Service sorts out individual complaints that consumers and financial businesses aren't able to resolve themselves.
The BSA produce a range of fact sheets designed to give you the information you need about savings, mortgages or the building society sector in general.