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How much tax will I pay on my savings?

Every basic rate taxpayer in the UK has a Personal Savings Allowance of £1,000. This means the first £1,000 of savings interest earned in a year is tax free. If you are a higher rate taxpayer (40%) then your allowance is £500.

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Hodge is a trading name of Julian Hodge Bank Limited and Hodge Life Assurance Company Limited. Julian Hodge Bank Limited is registered in England and Wales (No. 743437) and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204439. Portfolio Buy to Let loans, Residential Investment lending and Development Finance are unregulated financial products. Hodge Life Assurance Company Limited is registered in England and Wales (No. 837457) and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority registration number 139315. Both companies’ registered office is One Central Square, Cardiff, CF10 1FS.

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How much tax will I pay on my savings?

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