This tool can help you calculate how much tax you’ll need to pay on your savings interest, and whether you could be better off saving with an Isa instead.

This means you can earn £1,000 of savings interest before you have to pay tax on it. Any interest earned over £1,000 will be taxed at a rate of 20 per cent, until your total income reaches £50,270.

Millions of households are bracing themselves for changes that will reduce their financial resilience and result in them ...

Recent reports indicate that Chancellor Rachel Reeves is primed to announce a Cash ISA tax-free limit cut from £20,000, ...

Or you can opt for a fixed-term ISA savings account, where you won't pay any tax on the interest." Currently, UK residents can save up to £20,000 in a Cash ISA per tax year without paying tax on ...

HMRC has the ability to automatically detect interest on savings generated by your bank account. If you exceed a certain threshold, you'll automatically receive a notice of an additional tax bill ...

With interest rates still relatively high, even modest savings can generate income that pushes someone over the threshold, ...

Private equity firms urge UK to rethink carried interest tax change on whatsapp (opens in a new window) Save Alexandra Heal. Published April 3 2025. Jump to comments section Print this page.

Tax bands The personal allowance means most will not pay any tax on the first £12,570; Basic rate income tax at 20 per cent is then paid between £12,571 and £50,270; Higher rate income tax at ...