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Posted Wed, 18 Dec 2024 10:27:32 GMT by Fred
My only income for the 2024-25 tax year will be savings interest of about £21000 (no wages, pensions or other non-savings income).
Will I get the £5000 starting rate for savings?
Will I also get the £1000 personal savings allowance?
As I am a basic rate tax payer would I pay 20% tax on the savings interest over £18570 only? Ie. 20% on £2430
Posted Fri, 20 Dec 2024 12:34:36 GMT by HMRC Admin 13 Response
Hi Fred,
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve. 
You can find guidance at: Tax on savings interest: How much tax you pay
Thank you.
 

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