Back

⚠️ Hey, you are using an outdated web browser.
TaxScouts might not work with your browser. Upgrade here

Let us sort your Self Assessment online. £119, all in. Learn more

Personal Savings Allowance

The Personal Savings Allowance is how much interest you can earn tax-free from a savings account, bond, or P2P loan. It’s £1,000 if you’re a basic rate taxpayer (your annual income is less than £50,000) or £500 if you’re a higher rate taxpayer.

If your annual income is over £150,000, you’re considered an additional rate taxpayer and don’t get a Personal Savings Allowance.

This allowance doesn’t apply to interest earned from ISA accounts or Investment Bonds. Interest earned from them is always tax-free.

Hey there! We really hope this article helped you. Tax matters can be a dreadful topic at times. We know. That's why we started TaxScouts.
A stress-free way to getting your taxes done.

Have a minute? See how it works

More guides & useful information

Let us sort your Self Assessment online. £119, all in.

That’s right. No matter how complicated it gets or why you need to do a return in the first place, it’ll cost £119 to get it done. That includes VAT, last-minute changes and all the support you may need.

Learn more

How TaxScouts works

Answer a few simple questions

And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start preparing your tax return.

Then get paired with a tax return accountant

That’s right, you’ll be matched with a real certified accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.

We file your Self Assessment for you

Once you’ve signed off your return, your TaxScouts accountant will submit your return with HMRC for you.

That’s it! We told you it was simple.

Taxes as they should be done

Let’s get yours sorted today.
Get started