Tax on savings income.
A savings allowance determines how much savings income you can receive at 0% taxation, instead of the usual tax rates for savings income as shown above.
This continues to be set at £1,000 for basic rate taxpayers and £500 for higher rate taxpayers.
Further, interest income from an Individual Savings Account (ISA) continues to be exempt from tax.
.
.
.
.
.
.
#Springbudget2024 #UK #Incometaxrates #Allowances
#BNWcharteredaccountants #bnw #bnw_accountants_london
#accounting #accountant #finance #tax #bookkeeping #payroll #accountingservices #incometax #accountants #audit #bookkeeper #taxreturn #startup #taxpreparer #taxconsultant #accountingtips #bnw_chartered_accountants_london #FinancialExperts #VAT #VATreturns #taxdeadline
#TaxSavings #EntrepreneurTips #Taxonsavingincome
