Personal Savings Allowance showing as 0 on HMRC site

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
5 replies 1.2K views
AshenAshen Forumite
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edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I've just logged onto the HMRC site, and under the 'tax-free allowance' it shows a personal allowance of 11,000, and below that it says 'Personal Savings Allowance' of 0.

I'm a bit confused here, because I'm a basic-rate taxpayer - shouldn't it say 1000?

Also, my tax code calculation shows a deduction on untaxed interest on savings and investments - down to 1081L. This also confuses me, because I thought there was a £5000 savings allowance for low earners in addition to the £1000 personal savings allowance.

Replies

  • You are correct about the £5k and £1k allowances, maybe yours are zero because of unpaid tax from previous years? fj
  • AshenAshen Forumite
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    I've never earnt anything near paying anything more than basic rate tax, and even had a tax refund a few months ago because I didn't earn enough to be paying tax on all my savings interest.

    As it's quite a new site, and particularly with the new savings allowance, I was wondering if anyone else had anything weird like this show up.
  • edited 24 August 2016 at 9:29PM
    colstencolsten Forumite
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    edited 24 August 2016 at 9:29PM
    Just call HMRC and ask them to explain. If it is wrong, they will correct it.

    Don't wait for others to have similar problems, as those may or may not deal with the problems on your HMRC account.

    Please let us know how your problem got resolved and what they said was the reason for your problem.
  • AshenAshen Forumite
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    Thanks. I'm just one of those people that finds it far more difficult to phone, but may have to 'bite the bullet' and do so.

    I have found other posts suggesting that the savings allowance may be assessed at the end of the tax year when full income is known (although still doesn't explain why my PSA shows as zero).
  • What does your notice of tax coding say, mine clearly shows it as £1,000 allowance, in fact my earnings have now taken me into the 40% bracket and quick as a flash I received s new notice of coding with the £1,000 allowance reduced to £500! Can't complain that the tax office isn't on the ball in my case! fj
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