What is tax-free

Income from savings – What is tax-free

Not all types of income are equal from a tax perspective, and savings income enjoys dedicated allowances, tax rates and reliefs which allow a taxpayer to enjoy some or all of their savings income tax-free.   Personal Allowance The personal allowance for both 2021/22 and 2022/23 is set at £12,570. Any savings income that is …

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