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bobble
Big_Rouleur7
If you earn over £500 in interest if you’re a higher tax rate payer, or earn over £1000 in interest as a lower tax payer on a standard savings account in a tax year you will get taxed. That’s why people use cash ISA’s, especially as interest rates are higher.
I don’t do a tax return, but HMRC adjusted my personal allowance to reflect that I went over the savings threshold and had to pay tax on some of the interest earned.