sourdohman
Joined: 3/14/2024
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RE: Tax on pensioner savings
Clarification/Edit Am I correct in assuming that I can earn a maximum of £9,964 in savings interest without paying tax? -
Tax on pensioner savings
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