Ask a question

Personal Savings Allowance (from 6th April 2016)

From 6th April 2016 most of our customers will get tax-free interest on their savings.

How does it work?

The new Personal Savings Allowance will allow most UK taxpayers to earn tax-free interest on their savings. If you're a basic taxpayer, the first £1,000
of interest will be tax-free. For higher rate taxpayers the allowance is £500.

Will I need to do anything?

No, you won't need to contact us or tell us anything.

Where can I find out more?

If you need more information, like what to do if you earn more than £1,000 of interest a year, go to (opens in a new window).