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flag Financial expert warns savers may face tax on interest earned over certain limits.

flag Financial expert Martin Lewis warned on his BBC podcast that savers with over £10,000 might face tax on interest earned, not the savings themselves. flag He noted basic rate taxpayers can earn £1,000 in interest tax-free, while higher rate taxpayers can earn £500 tax-free. flag Lewis advised younger savers to consider long-term investments over traditional accounts and highlighted cash ISAs as a tax-free savings option.

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