My client's solicitors deposited monies they were holding on his behalf with the Bank of Ireland. They have sent him an international interest certificate for 2012/13 showing gross interest (say) £1,000.00 , tax deducted £73.10 , net £926.90. These are not the actual figures but the percentage tax deducted is the same. My client lives in N. Ireland. Can someone explain why the percentage tax deducted is only 7.31% ? Has the bank simply made an error? Comments and help required!!
29th Sep 2014
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International interest certificate
International interest certificate