Doodle Walker
Joined: 8/30/2023
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Maximum Savings Interest before I need to pay tax
Hi, My annual private pension is £4,800 a year. I'm hoping to invest in NS&I savings and receive approximately a further £12,000 interest. I am not due to receive a state pension for 5 years and I am not employed. My tax allowance is £12570, can I then use the £5,000 Starter Rate for Savings and the £1,000 PSA to reduce any tax due? I've worked out my total income is probably about £16,800. Thanks