We’re changing how we communicate your Annual Statement of Interest.
We issue an Annual Statement of Interest to our savings account holders each April. It lets you know how much interest the account has been paid in the previous tax year, and for taxable savings accounts, it also includes an interest certificate.
What’s changing?
In 2016, introduction of the Personal Savings Allowance (PSA) significantly altered how savings interest was taxed. Banks and building societies are now required to pay interest gross, meaning we no longer deduct tax before paying it to you. As a result, tax deduction certificates, which formed part of this statement, are no longer needed.
From 6 April 2026 we will no longer automatically send your Annual Statement of Interest in the post, instead:
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If you are registered on myaccounts, you will be able to see a digital version accessible via your ‘account documents’ section online or on the App by the end of April. We’ll also put a notice on the myaccounts welcome page to let you know it’s there.
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If you are not registered for our myaccounts online service, you will be able to request your Statement of Interest by:
- Completing this form
- Contacting any branch, or;
- Calling our Savings Customer Support team on 01635 555773.
I don’t require a statement; how do I view my interest figures?
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Checking your passbook (if applicable)
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Visiting a branch or
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Logging in to your online account through our myaccounts service or our mobile app.
Do I have to pay tax on my interest?
Most savers don’t need to do anything when receiving interest. HMRC provides a Personal Savings Allowance (PSA) currently up to £1,000 of interest tax-free for basic rate taxpayers. You may need to complete a tax return if your interest exceeds this allowance or if you’re a higher/additional-rate taxpayer. Interest from ISAs does not count towards your PSA because it’s already tax-free.
If you’re unsure whether you need to submit a tax return, you can find more information at www.gov.uk or speak to a tax adviser.
Financial Services Compensation Scheme (FSCS) protection limit increase
As a reminder, on 1 December 2025, the FSCS protection limit increased from £85,000 to £120,000. If you’ve been keeping your savings within the previous limit, this change gives you more room to grow your savings with us, with added peace of mind.
Later in the year we will send you the FSCS information sheet and a copy of Your Society so you can continue to enjoy updates about the benefits of your membership and stay informed about how your savings are protected.
Any questions?
If you would like to talk to someone about your savings, or need any help finding your interest payments, you can call us on 01635 555773 or visit our website and book an appointment online.
Receive updates like this by email
We can advise you of savings account changes by email, if we have an email address for you. This means you will receive the information more quickly and reliably. To provide us with an email address or to update it, complete this form or call us on 01635 555700.