clueless7489
Joined: 11/14/2023
-
RE: Maximum Savings Interest before I need to pay tax
Hi HMRC, I have £0 income,only savings interest. I don't claim anything,no pension & i am single,retired. What is the max savings interest i can receive in the 2023/4 tax yr before being liable for tax? Is it £17,570 or £18,570? Also on fixed rate bonds interest is tax liable on the year of access to the interest. So a 5 yr fixed rate bond that pays interest annually into the fixed rate acc,but interest is only accessible on maturity at yr 5 is the point of tax liability? Thankyou..