Fill in the figures, then click Work out my tax.
Result
How the interest is covered
| Layer | Interest covered |
|---|
What to do
| Step | What it means |
|---|
What it does, and what it leaves to you
- Covers: unused personal allowance (including the £100,000 taper), the £5,000 starting rate for savings, the Personal Savings Allowance by band, and savings interest taxed at 20%, 40% or 45%.
- Gives: tax due, interest after tax, the interest you can earn tax-free, the pot size that earns it, and the tax a cash ISA would save.
- Not decided: Scottish income tax bands, dividends and capital gains stacked on top, Gift Aid and pension relief at source, blind person's and marriage allowances, savings rate changes announced for later years, and anything that changed after this was written.
Common questions
What is the Personal Savings Allowance?
The amount of savings interest you can earn tax-free: £1,000 for basic-rate taxpayers, £500 for higher-rate taxpayers and nothing for additional-rate taxpayers.
What is the 0% starting rate for savings?
Up to £5,000 of interest is taxed at 0% if your other taxable income (after the personal allowance) is small. Every £1 of other taxable income above the personal allowance reduces it by £1, and it is gone at £17,570 of other income.
Does the bank take the tax off?
No. Banks and building societies pay interest gross. If tax is due you tell HMRC through Self Assessment, or HMRC adjusts your tax code or sends a P800.
Does interest in a cash ISA count?
No. Interest inside a cash ISA is ignored for income tax and does not use any of the allowances above.
Which tax year and nations does this cover?
2026/27 rates for England, Wales and Northern Ireland. Scottish income tax bands differ and are not modelled; check GOV.UK.
Is my data uploaded anywhere?
No. Everything is calculated in your browser and nothing is sent.