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Annual Interest Earned £1,500.00
Personal Allowance £12,570.00
Personal Savings Allowance £500.00
Total Tax-Free Savings Interest £500.00
Taxable Interest Amount £1,000.00

Would I be better off with ISA savings?

Yes! You could save £346.00 in tax annually by moving your savings to an ISA.
Payable tax £346.00

Recommended platform

5.0 /5

AJ Bell - AJ Bell was formed in 1995 and is now one of the UK’s leading online investment platforms. AJ Bell serves more than 670,000 customers, providing them with investment portfolios within SIPPs, ISAs and dealing accounts. It holds £103.3 billion of assets under administration and is listed on the FTSE 250.

4.9/5 Trustpilot Rating

Excellent range and choice for investors

Capital at risk.
Hey, did you know?
You belong in the Higher rate (40%) of the tax spectrum. Learn how you can minimize your tax rate in our blog about tax rates.
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Worried about changes to the Cash ISA allowance?

We've got 4 options to consider if this affects your plans.