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Tax on savings interest

sorbychili
Posted Wed, 13 Mar 2024 16:14:02 GMT by sorbychili
I am retired and have no any income. The only income I have is interest on my bank savings. I would like to know how much tax allowance I can have on my earned interest ?
HMRC Admin 19
Posted Wed, 20 Mar 2024 13:15:37 GMT by HMRC Admin 19
Hi,

You will have your personal allowance £12570 and then there can be the starting rate for savings and Personal Savings Allowance. You can see guidance here: 

Tax on savings interest

Thank you.

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