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flag UK workers earning over £17,500 may lose tax-free savings interest, facing unexpected tax bills.

flag UK workers earning over £17,500 may face unexpected tax bills on savings interest. flag While up to £5,000 in savings interest is usually tax-free, this benefit decreases with higher earnings. flag Once income exceeds £17,570, the tax-free savings allowance is lost. flag Savers must consider their total income to avoid surprises, especially with recent attractive savings rates. flag The Personal Savings Allowance, ranging from £1,000 for basic rate taxpayers to none for higher rate taxpayers, also impacts tax liability.

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