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Home News Savings Do you understand the personal savings allowance?
MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Leanne Macardle

Leanne Macardle

Editor
Published: 09/03/2016

The personal savings allowance (PSA) comes into effect in just a month's time. It'll see the first £1,000 in savings interest become completely tax-free (£500 for higher rate taxpayers), but the question is, do you understand it? If research from AA Financial Services is anything to go by, you could be at a loss.

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