I am self employed and completing my self assessment form, the section on UK interest is confusing me! There are two boxes, UK TAXED INTEREST & UK UNTAXED INTEREST. As I understand it, I have a £1000 allowance and as my interest for this period is below that threshold, I dont need to pay tax on my bank account interest. Do I need to declare these figures on my tax form? Depending on which box I enter into, effects the amount owed?