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Are interest and principal payments to my WiseAlpha account taxable?
Are interest and principal payments to my WiseAlpha account taxable?
Aidan Hamade avatar
Written by Aidan Hamade
Updated over 2 months ago

Any income you earn from your investments in WiseAlpha Products forms part of your overall income that is subject to personal or corporation taxation rules. Interest payable to holders on money invested is charged to income tax in the tax year the interest is received. For example, interest received on 31 December 2023 is received in and taxable for the tax year 2024/25.

You should declare any income to the HM Revenue & Customs on a self-assessment tax return if you are an individual or inform your local tax office.

If you are in any doubt about your tax position you should seek independent tax advice.

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