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Tax on savings
daitch101
Posts: 1 Newbie
Hi all
My wife has retired early and gets a pension of£7884 per annum.
no other income
savings interest per annum £7729
will she pay tax
thanks
My wife has retired early and gets a pension of£7884 per annum.
no other income
savings interest per annum £7729
will she pay tax
thanks
0
Comments
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No, it will be covered by her personal allowance (£12570) and the starter savings rate (£5000 taxed at 0%).daitch101 said:Hi all
My wife has retired early and gets a pension of£7884 per annum.
no other income
savings interest per annum £7729
will she pay tax
thanks'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.2 -
£10,686 of interest tax free.Over 10k a tax return will need to be filed0
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I feel we're going to be seeing lots and lots of similar threads as interest rates rise and loads more people get closer to the tax thresholds.
Bring back the days of sub 1% savings rates I say (joke, joke...
)
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