Savings interest as only income

ringding

If someones only income is from interest on savings, do they have to pay tax if the total interest received p.a. is below the ~£12k that PAYE is paid above?

Bigwheels1111

No tax to pay if interest is £18,570 or less.

I get £4,000 carers allowance and over 10k interest.

I will pay no tax. But if interest is over 10k A self assessment return will need to be filed.

Very simple process

£12,570 from pensions, earnings or interest is tax free

£  5,000 starter savings rate.

£  1,000 PSA

£18,570 tax free.

InvesterJones

Don't think so, but they'll have to do a self-assessment if it's over £10k.

ringding

Great. Thank you both. Much appreciated.