S · Glossary
Savings interest
Interest from bank accounts, bonds, P2P — taxable above the Personal Savings Allowance.
Savings interest from bank accounts, bonds, P2P platforms is taxable as savings income. Use the Personal Savings Allowance (£1,000 basic / £500 higher / £0 additional rate) and the £5,000 Starting Rate for Savings (low earners).
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