Tax on Savings Interest?

rrl28 Posts: 28
First Anniversary First Post
edited 15 November 2023 at 12:26PM in Savings & investments
My wife and I have a joint savings account with over £30,000 in it paying interest at 5.2% so the interest paid is now over £1,000 a year.

Are we allowed £2,000 a year interest without paying tax?

We are both pensioners and because of my 4 pensions I still pay a small amount of income tax (about £18 a year) even though I applied for the married tax allowance.


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