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Savings and investing
Savings interest tax
Estimate tax on savings interest, including the starting rate, Personal Savings Allowance and any lost Personal Allowance.
Open calculatorEngland / 2026/27
Savings interest tax calculator
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Extra Income Tax caused by interest
| Gross interest outside ISAs | £2,000.00 |
|---|---|
| Personal Allowance used for interest | £0.00 |
| Starting-rate interest at 0% | £0.00 |
| Personal Savings Allowance | £1,000.00 |
| Income Tax on interest | £200.00 |
| Extra tax on other income from allowance taper | £0.00 |
| Interest after all extra Income Tax | £1,800.00 |
England, salary or pension income plus savings interest only. ISA interest is excluded. Zero-rate interest still occupies tax bands. Includes any Personal Allowance lost because of interest; excludes dividends, pension relief, Gift Aid, loans, benefits and special allowances.
Check the inputs to calculate a result.
Calculation details
Allowances and tax bands
Unused Personal Allowance can cover interest. The £5,000 savings starting-rate band reduces as non-savings income exceeds the Personal Allowance. The Personal Savings Allowance is £1,000 for basic-rate, £500 for higher-rate and £0 for additional-rate taxpayers; all interest counts when identifying the band.
Example
With £30,000 salary and £2,000 interest, the £1,000 Personal Savings Allowance leaves £1,000 taxable at 20%, giving £200 extra tax.
Limits
Salary or pension income plus interest only, using England bands. Zero-rate interest occupies tax bands. Includes extra tax on other income if interest erodes the Personal Allowance. Excludes dividends, pension relief, Gift Aid and benefits.
Sources
- Savings starting rate, Personal Savings Allowance and total-income band test
- 2026/27 savings income rates and bands
- Personal Allowance and adjusted-net-income taper
- England taxable-income band limits and rates
Checked 2026-10-25. Estimate only, not financial advice.