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Tax on pensioner savings

sourdohman
Posted Thu, 14 Mar 2024 22:38:30 GMT by sourdohman
My personal allowance is £11,310 (having given away 10% to my spouse) My state pension is £7,346 Apart from savings interest I have no other income Am I correct in assuming that I can earn a maximum of £9,964 in savings interest? The calculation being: Personal allowance-state pension+starting rate for savings+personal savings allowance £11,310-£7,346+£5,000+£1,000=£9,964
sourdohman
Posted Fri, 15 Mar 2024 11:36:31 GMT by sourdohman
Clarification/Edit Am I correct in assuming that I can earn a maximum of £9,964 in savings interest without paying tax?
HMRC Admin 5 Response
Posted Wed, 20 Mar 2024 15:48:46 GMT by HMRC Admin 5 Response
Hi Paul

That is correct.

Thanks

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