We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
income from interest
Comments
-
the 10% tax band of £2320 applies to savings (only) over the threshold of £60350
-
AIUI, the first £2,090 of taxable savings income (i.e. from £6,036 to £8,125 or thereabouts) will be taxed at 10%."The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens0
-
http://www.hmrc.gov.uk/rates/it.htm
There will be a new 10% starting rate for savings income only, with a limit of £2320. If an individual’s taxable non-savings income is above this limit then the 10% savings rate will not be applicable.
it only applies to savings income - if you have earned income then the 10% doesnt apply at all0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards