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Tax ReliefUK-wide

Personal Savings Allowance

HM Revenue & Customs

Description

Lets you earn interest on savings tax-free before Income Tax kicks in, with the amount depending on which tax band you're in: £1,000 for basic rate taxpayers, £500 for higher rate taxpayers, and nothing at all for additional rate taxpayers. It's applied automatically by HMRC through your tax code or Self Assessment, so there's no separate claim to make.

Amount

£1,000 tax-free savings interest (basic rate), £500 (higher rate), £0 (additional rate)

Deadline

Rolling / no fixed deadline

Eligibility summary

  • Available across the whole UK (England, Scotland, Wales, and Northern Ireland).
  • Open to individuals — not restricted to businesses.
  • Relevant income bands: basic rate taxpayers, higher rate taxpayers, additional rate taxpayers.
Banded allowance
£1,000 (basic rate), £500 (higher rate), £0 (additional rate)

Want help with this application?

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You can also do this yourself for free via the official source

How to apply

Applied automatically by HMRC via your tax code/Self Assessment — no separate claim needed for most people.

View official source

Last verified: 1 August 2026. See the footer disclaimer — this is general information, not financial or tax advice.