tax on savings interest with no income

member03030

I'm currently earning a big fat ziltch per year and have been living off a few investments/interest  since selling my house 2 years ago and banking the profits.

I would like to know if possible how much i can earn through savings interest (p2p and savings) before having to start to pay tax on the interest.

example, If earnings are Zero and if i earnt interest in a tax year of 10,000 would i pay tax on any of that 10K..

Thanks

JGB1955

£18,570.  See Tax-free savings: check if you're eligible - Money Saving Expert

member03030

JGB1955 said:

£18,570.  See Tax-free savings: check if you're eligible - Money Saving Expert

Thanks for this, honestly I searched for an hour to find an article/question that would give me an answer, and it was there all along, doh !!
Gives me a lot to play with thanks 😀

Dazed_and_C0nfused

https://www.gov.uk/apply-tax-free-interest-on-savings

member03030

All the examples shown in the links showed a small earnings income, so I was quickly dismissing them without reading properly... Thanks again 😀

Dazed_and_C0nfused

One thing to remember is that even if no tax is payable HMRC will still expect you to file a Self Assessment return if your taxable interest is £10k or more in a year.

Unlikely but with interest rates rising who knows!