Personal Savings Allowance factsheet

95% of savers now have no tax to pay on their savings income

"For most savers the PSA will mean all of their savings are tax free and so getting the best rate should be their main focus - but for those with larger amounts to save and high earners, a cash ISA may still be beneficial"

From 6 April 2016, the introduction of the Personal Savings Allowance (PSA) means that basic rate taxpayers can earn up to £1,000 in savings income tax free and higher rate taxpayers up to £500.

Our free factsheet explains in more detail how the allowance works and what savers have to do to benefit.

Related guides and factsheets

Avoid the pitfalls and navigate the ISA maze successfully 

A guide designed to help you navigate some of the potential pitfalls when deciding to appoint or review a Wealth Manager

Understand the different types of savings accounts available

Call us on 0800 011 9705 if you have any questions

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Anna Bowes

© Savings Champion


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