Why Have I Received a Second Simple Assessment?
Received another HMRC Simple Assessment for 2025/26 savings interest? Learn why it may show the full tax again, what to check and when to pay.
Why have I received a second Simple Assessment for savings interest? HMRC may have received new or revised information from your bank after issuing the first notice. The latest Simple Assessment shows the total tax due for the tax year, including an amount shown on an earlier notice even if you have already paid it. You should therefore check the calculation and deduct payments already made to establish the remaining balance.
Information checked on 16 October 2026.
What has HMRC announced?
HMRC’s Agent Update 148, published on 15 October 2026, says it is starting to issue P800 tax calculations and PA302 Simple Assessment notices for tax due on bank and building-society interest earned between 6 April 2025 and 5 April 2026.
Some taxpayers may already have received a Simple Assessment for 2025/26 that did not include all relevant savings interest. When HMRC later receives the interest information, it may issue another notice for the same year. This is part of the existing tax-calculation process, not a new tax on savings.
Does the second notice mean I must pay the first amount twice?
No. HMRC’s Simple Assessment guidance explains that the latest notice shows the total tax liability for the year. It does not merely show the extra amount arising from the newly received information.
For example, if an earlier notice showed £300 and you paid it, and the revised notice shows a total of £450, the remaining amount would normally be £150. Check your Personal Tax Account and payment records before making another payment. If a payment is missing or has been allocated incorrectly, contact HMRC rather than paying the full figure again without checking.
Why is HMRC calculating tax on my savings interest?
Banks and building societies report interest to HMRC after the tax year. Under the official savings-interest guidance, tax is charged on taxable interest above the allowances available to you, at your usual Income Tax rate.
If you are employed or receive a pension and tax is due, HMRC will usually send a calculation and may collect the underpayment by changing your PAYE tax code. The tax code may also contain an estimate of current-year interest based on earlier information. This means the interest figure in a tax code may differ from the gross interest shown across your bank statements.
If HMRC cannot collect the tax through PAYE, or the tax owed is £3,000 or more, it may issue a Simple Assessment. A PA302 is a tax bill; it is not the same as submitting a Self Assessment tax return.
Do I need to complete a Self Assessment return?
If you already submit a Self Assessment return, savings interest should be reported through that return. HMRC’s guidance says that people with more than £10,000 of savings interest must report it on a Self Assessment tax return. HMRC may issue a notice to file where information supplied by a bank or building society shows interest above that level.
The £10,000 figure is a reporting route, not a tax-free allowance. Whether interest is taxable depends on your wider income and the allowances available. Do not assume that interest below £10,000 is automatically tax-free.
HMRC’s October update also says that someone already registered for Self Assessment for the relevant year should contact HMRC about withdrawing the Simple Assessment, rather than dealing with the same liability through two different processes.
What should I check on the notice?
- Confirm that the notice relates to the correct tax year: 6 April 2025 to 5 April 2026.
- Compare the listed bank or building-society interest with your annual statements and certificates.
- Check whether a bank name shown is the name of its wider financial group.
- Look for duplicated accounts, closed accounts or an unexpected equal split of joint-account interest.
- Check your Personal Tax Account and bank records for payments already made against an earlier notice.
- Confirm whether you were already required to submit a Self Assessment return for the year.
HMRC states that it normally assumes interest on a joint account is split equally between the account holders. If that does not reflect the relevant beneficial ownership or the information is otherwise wrong, obtain appropriate advice and contact HMRC with supporting records.
What if the calculation is wrong?
The official payment guide says you must contact HMRC within 60 days if information used in your Simple Assessment is wrong. Do not ignore the notice while gathering evidence. Keep copies of bank statements, interest certificates, the earlier and revised notices, and proof of payments.
If the figures are correct, pay by the deadline on the notice. For a 2025/26 notice received before 31 October 2026, the standard payment date is 31 January 2027. A notice received on or after 31 October 2026 for 2025/26 or an earlier year is normally due within three months of the notice date. Always follow the date printed on your own notice.
You will need the 14-character Simple Assessment payment reference beginning with “X”. Using the wrong reference can delay allocation or apply the payment to another tax bill.
Frequently asked questions
What is the difference between a P800 and a Simple Assessment?
A P800 is a tax calculation showing an underpayment or overpayment. A Simple Assessment, also called a PA302, is a bill used where HMRC cannot collect the tax automatically through a tax code or where other conditions apply.
Why does my bank statement show more interest than my tax code?
A tax code may show only taxable interest and may use an estimate based on earlier data. Your statements can show the gross interest actually paid across your accounts.
Can HMRC collect the savings-interest tax through PAYE?
Usually, where you are taxed through PAYE and the underpayment can be coded. Otherwise HMRC may issue a Simple Assessment explaining how and when to pay.
Should I pay the full figure on a second Simple Assessment?
First check whether an earlier amount has already been paid. The latest notice shows the total liability for the year; normally only the unpaid difference remains due.
What if I do not recognise the bank name?
It may be the wider banking group’s name. Check this against your accounts. If you still cannot reconcile it, contact HMRC promptly.
Speak to SKN Chartered Accountants
Received a P800 or Simple Assessment that you do not understand? SKN Chartered Accountants can help you compare the notice with your savings records and identify the points that need to be raised with HMRC. Visit sknservices.co.uk or call 0121 551 7626.
Official sources were opened and checked on 16 October 2026. Agent Update 148 was published on 15 October 2026; the linked savings-interest and Simple Assessment guidance displayed no publication or update date. This article provides general information, not personalised tax advice. Obtain advice appropriate to your circumstances.