Information on S975 Income Tax Statements


An S975 Statement is a written statement showing the interest earned and tax paid on an account.

Deposit-takers such as banks are required to issue Income Tax Act 2007 S975 Statements upon request.

Some customers ask their bank for such a Statement in order to make a repayment claim of income tax from HM Revenue & Customs or to complete their Self Assessment Return.

Please note that in most cases HMRC no longer require customers to obtain a S975 Statement in order to make such a repayment claim or to complete their Self Assessment Return. Instead HMRC usually allow a customer to rely on the information provided on other documents. This includes credit interest information included on bank statements or the tax summary some banks include in client communications or on the bank account statement itself.

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