In UK when filling-in self-assessment, HMRC is asking for amount of interest received during the tax year. But bank charges are not taken into account.
See example here: my bank charges me £5 ever month for my account. In return I'm getting some interest. Let's say over the financial year I've earned £100 interest, but paid £60 in bank charges. So my net profit from my capital is £40.
But HMRC ignores bank charges and thinks that my profit from my capital is £100. What are their reasoning in this case?
For my business I can put bank charges as expenses. Why not for personal finance?