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Your Personal Saving Allowance
You have a ‘Personal Savings Allowance’ or PSA, which means you can earn interest – from savings, loans – such as peer-to-peer or bonds – tax free up until a certain amount. Your tax-free allowance depends…
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Income Tax Bands
Your Income Band Name Tax Rate Up to £11,850 Personal Allowance* 0% £11,851 to £46,350 Basic rate 20% £46,351 to £150,000 Higher rate 40% Over £150,000 Additional rate 45% *If you earn…
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Tax Breaks on Your Income
Your main source of income is likely to come from employment but, for the sake of tax, the government also class other earnings as income. Interest from saving accounts, dividends from shares, rental…
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Introduction to ISAs
ISA stands for Individual Savings Account. Simple right? There are ISAs for savings, first time home buyers, children and investment. Not so simple anymore. So let’s get serious, how many ISAs does one…
