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Does the inland revenue get to know about individuals interest on isa accounts.?

Does the inland revenue get to know about individuals interest on isa accounts.?

All the other answers are incorrect.

Yes, by law banks and building societies return details of interest paid on all savings and investments including ISAs to HMRC by law. This is recorded on a searcheable database.

This data can be used to query any accumulated funds.

Why should they be interested ? Ooops ! See what I did there ?

For ordinary folk all interest earned is taxed at source i.e. from bank. ISA is tax free so there would be no interest to declare to IR.

No they don't. Organisations running ISAs are responsible for ensuring that they comply with the rules so there is no need for them to supply info to HMRC.

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