Al Rayan Bank customers mistakenly hit with HMRC tax bills on cash Isas

More than 250 customers holding cash Isas with Al Rayan Bank have been hit with HMRC tax bills, despite their savings supposedly being held tax-free.

Cash Isa savings interest should be exempt from tax, no matter how much you’re earning. But an issue between Al Rayan and HMRC has led to some customers being wrongly charged.

Visit Which? to read this article in full

Author: The Muslim Wealth Portal

Navigating the UK towards Halal Finance