How much interest can a child earn before paying tax

Martyandjake

I know as an adult I can earn £1000 in interest  on savings before I have to pay tax. But can children earn more as they have no other taxable income? Thanks

JGB1955

They can earn up to £18,570 before paying tax - the same as an adult.

Dazed_and_C0nfused

Martyandjake said:

I know as an adult I can earn £1000 in interest  on savings before I have to pay tax. But can children earn more as they have no other taxable income? Thanks

Assuming they're aren't married (😳) then it's £18,570.

You can potentially earn £17,310 or £18,570 before paying tax on interest.  The £1,000 is irrelevant to a lot of people.

Jeremy535897

Remember, though, that if a minor receives interest on funds contributed by a parent, if it exceeds £100, the whole of the interest is taxed on the parent.