HMRC to Send Tax Letters to 1.9 Million People

HM Revenue and Customs will issue approximately 1.9 million letters between October and December 2026 to individuals who owe tax on savings interest from the 2025 to 2026 tax year. The agency will send either a Simple Assessment notice or a Tax Calculation letter based on data provided by building societies and banks.

Tax is owed by those whose savings interest exceeds the personal savings allowance threshold. For individuals paying via PAYE, tax codes will be adjusted automatically. All other recipients must pay the owed amount by January 31, 2027, using the GOV.UK website or the HMRC app. Those receiving more than £10,000 in savings interest must register for Self Assessment and file a tax return.

HMRC reports that people aged 65 and over make up about one-third of the expected recipients. Chief Customer Officer Myrtle Lloyd advised recipients to check their details and take action if required, noting that those who already paid an earlier Simple Assessment only need to pay the difference in the latest letter.