Find financial terminology hard to follow? Here's a quick guide to all the commonest terms - and what they mean to you.
Savings accounts from banks and building societies pay interest after the tax has been taken off. This is called 'net' interest. Interest paid to you without tax taken off is 'gross' interest. If you are a non-taxpayer you can register to have the interest paid gross - ask the bank or building society for Form R85.
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