With tax returns due to be submitted soon (if you want HMRC to calculate your tax for you), a word of warning seems appropriate.

If you have a Direct Saver account with the Alliance and Leicester, it is worth checking your interest certificates before you complete your tax return, According to the Tax Faculty of the Institute of Chartered Accountants in England and Wales (ICAEW) , the Alliance has issued a number of annual tax certificates for 2007/8 which are incorrect.

According to the ICAEW, the certificates of affected customers show the correct amount of net interest, but the amounts of income tax deducted and gross interest are incorrect.

Approximately 8,000 customers are involved.