Personal allowance and tax on interest explained: How it works, what you owe - and how to cut it
![Personal allowance and tax on interest explained: How it works, what you owe - and how to cut it](https://i.dailymail.co.uk/1s/2024/07/12/16/85844075-0-image-m-30_1720799745156.jpg)
The rise in savings rates means many more people are forced to pay tax on their interest, as they breach the tax-free personal savings allowance.
The rise in savings rates means many more people are forced to pay tax on their interest, as they breach the tax-free personal savings allowance.