Interest on personal savings

How to deal with interest on personal savings in Sage Sole Trader.

Quarterly updates submit your self-employment and property income to HMRC every three months. Personal savings interest sits outside these updates. You report it once a year on your end of year tax return.

Interest on personal savings isn't part of your sole trader business.

In Sage Sole Trader, you record it as: 

• Non-business money in (for interest received)
• Non-business money out (for interest paid)