Tax Free Savings From 6th April 2015

4 March 2015

The Government has abolished the 10% tax rate of tax on savings for those on low incomes.

A new 0% tax rate for savings means more pensioners, low earners, or those with only investment income, can have some or all of their savings interest paid tax free.

From 6th April 2015, you can get your savings interest paid tax free if your income for the year is £15,600 or less. Even if your total income is higher than £15,600, you may still be able to get back some of the tax you have paid on your savings interest.

For more information and to check if you're eligible go to www.gov.uk/taxfreesavings.

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