We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Redundancy and Tax
Comments
-
um - your partner can't be 10% tax payer (unless you mean NI only) as the bands are 0% 20% 40% ... unless I haven't been paying attention
For those whom this might vague ring bells, there used to be a 10% tax rate for those with savings interest (only) which was on the first ~£3K of interest, which was removed in 2014 when 0% was applied to the first £5K[1] of savings interest (only,) which remains to this day[2]. If you have other taxable income, this limit is reduced to £1000 (or £500 or £0.)[2]
[1] https://www.gov.uk/government/publications/issue-briefing-starting-tax-rate-for-savings-interest/issue-briefing-starting-tax-rate-for-savings-interest
[2] https://www.gov.uk/apply-tax-free-interest-on-savingsConjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards
