Personal Savings Allowance (from 6th April 2016)
From 6th April 2016 most of our customers will get tax-free interest on their savings.
How does it work?
The new Personal Savings Allowance will allow most UK taxpayers to earn tax-free interest on their savings. If you're a basic taxpayer, the first £1,000
of interest will be tax-free. For higher rate taxpayers the allowance is £500.
Will I need to do anything?
No, you won't need to contact us or tell us anything.
Where can I find out more?
If you need more information, like what to do if you earn more than £1,000 of interest a year, go to www.gov.uk(opens in a new window).