HMRC asking banks to tell them how much people have in savings in new rules

HMRC asking banks to tell them how much people have in savings in new rulesInterest rates have soared with officials saying this means 'this has made the system for identifying and collecting tax on interest more important' Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Ben Hurst 04:01, Sat, Jun 6, 2026 Rising interest rates means collecting tax on interest is much more important to HMRC (Image: Getty)HMRC is planning to look directly into people’s bank accounts to check if interest needs to be charged on savings. Under new rules banks such as HSBC, Barclays, Lloyds, NatWest , Santander and Chase will be told to make information such as National Insurance numbers available. window.scriptsToLoad.push({url:'https://live.primis.tech/live/liveView.php?s=118222&vp_content=plembed3a6btjknzwqh&cbuster=%%CACHEBUSTER%%&playerApiId=v118222',triggeredBy:'tcfLoaded',delay:1500,containerId:'ovp-primis',title:"Primis player",beforeLoad:()=>{window.top.addEventListener('primisPlayerInit',e=>{try{if(e.detail&&e.detail.playerApiId==="v118222"){if(window.document.getElementsByClassName('jwplayer')[0]){e.detail.float('disable')}}}catch(e){}})},}) In an article for the Telegraph Jonathan Athow, director of strategy and policy at HMRC said the aim was to make sure the tax authorities have all the data they need. He wrote: “HMRC is asking financial institutions to provide additional identifiers, such as National Insurance numbers. We also want to modernise how data is submitted and improve timeliness. Article continues below ADVERTISEMENT Get personal finance news, money saving tips and advice plus selcted offers and competitions Subscribe Invalid emailWe use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy“Th...