Do you understand the personal savings allowance?

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 It is now over 6 months old so the content may be out of date.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

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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Do you understand the personal savings allowance?

Leanne Macardle

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