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Savings Interest Tax Calculator
Free UK savings tax calculator: how much of your interest is covered by the Personal Savings Allowance (£1,000 / £500) and the £5,000 starting rate, and the tax due in 2026/27 or at the higher 2027/28 rates.
Your income
Tax on your savings interest
£200.00
| Your tax band | Basic rate |
| Covered by the starting rate for savings (0%) | £0 |
| Covered by your Personal Savings Allowance | £1,000 |
| Interest taxed | £1,000 |
| Tax due | £200.00 |
HMRC usually collects this through your tax code using figures from your bank. If you're in Self Assessment, include it on your return.
2026/27 rules
| Personal Savings Allowance: basic / higher / additional | £1,000 / £500 / £0 |
| Starting rate for savings | up to £5,000 at 0% (less if other income is over £12,570) |
| Savings tax rates | 20% / 40% / 45% |
Savings interest is taxed at UK rates even if you live in Scotland. From April 2027 savings rates rise to 22%, 42% and 47%.
Rules last checked October 2026. Dividends are not included. Not legal, tax or financial advice. 🔒 Everything stays on your device.
✅ Rules last checked:
📚 Official sources: GOV.UK: tax on savings interest
We build every tool from the official rules and re-check them when they change. Always confirm with the official source before you rely on a result.
🛠️ Spotted a mistake or an out-of-date rule? Tell us
Questions people ask
How much savings interest is tax-free?+
£1,000 a year for basic-rate taxpayers and £500 for higher-rate; additional-rate taxpayers get none. Low earners can also use the £5,000 starting rate.
Is ISA interest taxed?+
No. Interest inside an ISA is always tax-free and doesn't use your allowance.
Are savings tax rates going up?+
Yes. From April 2027 they rise to 22%, 42% and 47%.