Index Savings and Investment Manual: Manual Contents

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Introduction

The Savings and Investment Manual (SAIM) explains the taxation of certain types of income from savings and investments. It is written primarily for HMRC staff but it will also assist customers and their professional advisers. Customers filling in self assessment tax returns may not need to use the SAIM at all. You can get basic information on how savings and investment income is taxed from the Self Assessment Tax Return Guide and Help Sheets. They are on the HMRC website at www.hmrc.gov.uk, as are details of how to claim tax back on Bank and Building Society interest.

The guidance in SAIM applies to the savings and investment income chargeable to income tax. It is an updated version of material previously in the Inspectors Manual and in other HMRC guidance. For guidance on the taxation of savings and investments held by companies, see the Corporate Finance Manual (CFM500). This manual does not cover capital gains aspects of savings and investments - see the Capital Gains Manual (CG).

Important from 1 April 2009 and as part of a wider programme of reforms, a new tribunal service was created. From that date, references in this guidance to ‘appeals’, ‘General Commissioners’, ‘Special Commissioners’, and related terms should be interpreted as references to the new tribunal service. Further guidance on the new tribunals, appeals and internal review can be found here.

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