How much tax free interest

carlbhoy

I am receiving my pension from January next year. I have just looked and the gov uk site, it says I will be getting £11245.53 pa, my question is how much interest on top of the £11245.53 will I be able to earn on my savings before I have to pay tax?

Bigwheels1111

£18,570 - £11,245.53 = £7,324.47 tax free from savings.
Over 10k in interest would need a tax return filing.

carlbhoy

So anything more than £7324.5, would be worth considering, putting in an isa?

Bigwheels1111

Do you have 150k in cash savings at 5% ?. Only then would you need an isa.

carlbhoy

Thanks for replying 

eskbanker

And just to reiterate the point usually made in threads like this, it's generally better to focus on maximising net return rather than trying to avoid tax as such, i.e. 80% of a decent rate will often beat 100% of a poor one....

Dazed_and_C0nfused

carlbhoy said:

I am receiving my pension from January next year. I have just looked and the gov uk site, it says I will be getting £11245.53 pa, my question is how much interest on top of the £11245.53 will I be able to earn on my savings before I have to pay tax?

It depends if you have any other non savings non dividend income in the same tax year.

And whether you have applied for Marriage Allowance, giving you a reduced Personal Allowance.