Question re understanding of tax on savings interest

Hello - just wanting to check that my understanding here is correct. 

In a scenario where someone earns £15,500 - am I correct in thinking that they then get benefit of just over £2k of the Starter Savings rate, PLUS the personal savings allowance of an additional £1k - meaning that just over £3k of savings interest could be earned before tax would become payable on that interest? Apologies if any of the terminology I'm using here isn't entirely correct - hopefully the premise of the question is clear though! 
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Replies

  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    If the only taxable non savings non dividend income is £15,500 and you haven't applied for Marriage Allowance then you can earn,

    £2,070 - savings starter rate (0%)
    £1,000 - savings nil rate (0%)
  • EssexHebrideanEssexHebridean Forumite
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    Thank you - that confirms I wasn't going mad/overthinking/completely misunderstanding the situation then. :lol: 

    Much appreciated! 
    🎉 MORTGAGE FREE 30/09/2016 🎉
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    2023 "Gym Neutral Fund" - £11.87/£280 (Membership taken 01/2/23)🏋🏻♀️ 2023/24 Gym cost per use: at 01/02/23 £280.00 per visit! (1) 🏋🏻♀️
    she/her
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