Savers face paying tax on interest for first time in seven years - This is Money

Introduced in 2016, the personal savings allowance allows basic-rate taxpayers to earn £1,000 savings interest a year tax-free.

Savers face paying tax on their interest for the first time in seven years, as rising rates and savings levels mean they risk busting the personal savings allowance. Introduced in 2016, it allows ba… [+2212 chars]

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