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flag HMRC warns UK savers that only £1,000 of annual interest is tax-free; beyond that, it's taxable.

flag The UK's HMRC has warned that many people are unaware of a rule limiting tax-free savings interest to £1,000 annually, beyond which earnings are taxable. flag The alert highlights growing confusion among savers about how interest income is treated for tax purposes, especially with rising interest rates. flag The warning comes as the government seeks to improve compliance and ensure individuals accurately report their savings income.

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