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Tax-free Savings Income of £18,500

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Tax-free savings income of £18,500 Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in addition to that held in tax-free wrappers, such as individual savings accounts (ISAs). The ability to enjoy savings income tax-free is made up of three components: the personal allowance; […]

Tax Free Savings

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There is no one answer to the amount of savings income and, for 2017/18, the answer can range from £0 to £18,650, depending on personal circumstance. When looking at tax free savings, there are a number of elements to take into account: the personal allowance; the marriage allowance; the savings allowance; and the starting rate for savings. […]