Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 10 Oct 2023 13:51:52 GMT by Simon Jenkins
I’m resident in Scotland and I will be earning enough interest on my savings this year to have to pay income tax on it. It would appear that savings interest is taxed on UK rates and bands as opposed to Scottish rates and bands. If my savings interest is added to my pension income it would place me in the Scottish higher rate but not the UK higher rate. What rate do I pay income tax on that interest, and what personal savings allowance do I receive?
Posted Mon, 23 Oct 2023 13:42:44 GMT by HMRC Admin 32 Response
Hi,

The personal savings allowance and tax on interest are based on the UK reate bands.

Income Tax rates and Personal Allowances

Income Tax: personal savings allowance

Thank you.

You must be signed in to post in this forum.