CumbrianExile d
Joined: 4/8/2024
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Personal Saving Allowance (PSA) and Zero rate tax band
If my only income is a State Pension (approx £700 per month) and my savings interest from non ISAs exceeds £1000 for the 23/24 tax year, will I be able to take advantage of the zero rate tax band for savings up to a maximum of £5000? As HMRC are notified automatically of savings interest by UK banks and building societies do I need to inform them?