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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

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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.