CG
Joined: 9/9/2024
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RE: Maximum Savings Interest before I need to pay tax
According to the checker I do not need to send a tax return (Lower Rate taxpayer, total income pension + state pension £30K, and Interest less than £10K). But I think I need to pay tax on savings interest payments, gross £4K. So I don't understand why the savings threshold used by the checker is £10K. Can you help me understand why the checker threshold is greater than the tax free allowance? Thanks.