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Posted 6 days ago by Safi
Hi, I read a Column in the Daily Mail by Rachel Straus 31/5/25 which said people on a low income could have £5K of Interest before paying Tax. I understand that to mean regular money coming in? I have a (very small) Medical Retirement Pension, E.S.A. (replaced by the New State Pension next Autumn) and recently in receipt of ADP. What is the gross/net Sterling Amount of Income allowed to qualify for this "loophole" (Daily Mail' word) please? Regards
Posted 3 days ago by HMRC Admin 25 Response
Hi Safi,
The article is most likely referring to the Starting Rate for Savings, which allows an additional amount of savings interest allowance, up to £5000. Conditions for this allowance can be found here:
Tax on savings interest
Thank you. 

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