2024-25 tax year offers up to £1,000 annual tax-free interest for basic rate taxpayers, £500 for higher rate taxpayers.
Savings expert Peter Hatton highlights that the government could provide up to £1,000 annually to eligible savers, as the 2024-25 tax year begins. Basic rate taxpayers can earn up to £1,000 interest tax-free, while higher rate taxpayers have a threshold of £500. Hatton suggests that Instant Access Cash ISAs offer flexibility and ready access to savings, though they often have variable interest rates.
April 19, 2024
3 Articles