Tag: savings interest tax
Brits earning more than £12,570 issued £641 warning
A letter from HMRC may catch “many” by surprise, a bank has warned. …
State pensioners warned they are ‘at risk’ of staggering £6bn stealth tax on savings
Older Brits are “particularly at risk” of being taxed, as many of them will have saved up “large cash reserves” before retiring. …
800,000 more face ‘unexpected pitfall’ as extent of stealth tax raid unveiled
New analysis has highlighted just who will be affected by the tax change …
Martin Lewis issues warning for anyone with savings over £20,000
Personal finance expert has issued a rundown to savers as he gave an alert on how some could end up paying tax on their cash due to savings allowance limits …
Warning as 800,000 people to be dragged into paying more tax
The personal savings allowance, introduced in 2016, is a set amount of interest that a saver can earn before tax is due. …
