UK Savings Tax Calculator

Calculate how much tax you'll pay on your savings interest based on UK tax rules for 2026/27

Your Details

Annual Income (before tax)

Include salary, pension, and other taxable income

Amount to Save

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Tax Calculation Results

Enter your details to calculate tax liability

UK Savings Tax Rules 2026/27

Personal Savings Allowance

• Basic rate taxpayers: £1,000 tax-free
• Higher rate taxpayers: £500 tax-free
• Additional rate taxpayers: £0 tax-free

Starting Rate for Savings

• Up to £5,000 at 0% tax rate
• Reduces by £1 for each £1 of other income above £12,570
• Only applies if total income is low

Important Disclaimers:

This calculator is based on UK tax rules for 2026/27. Tax rules can change and depend on your individual circumstances.
Interest rates may include bonus terms, introductory rates, or variable components that could affect actual returns.
Projected returns are estimates - actual interest earned may differ due to rate changes or account conditions.
Always verify current rates and terms with providers, and consult a qualified tax advisor for personalised advice.

Learn More About UK Savings Tax

Complete Savings Tax Guide

Read our comprehensive guide covering Personal Savings Allowance, ISAs, Premium Bonds, and tax-efficient saving strategies.

Read Complete Tax Guide

UK Tax Savings Video Guide

Watch our step-by-step video guide on calculating savings tax and maximizing your returns legally.

Official Tax Guidance

For official information about UK savings tax, visit these authoritative government sources:

HMRC - Tax on Savings Interest

Official guidance on Personal Savings Allowance and how to check if you need to pay tax on your savings interest.

HMRC - Income Tax Rates & Allowances

Current UK income tax rates and personal allowances for the 2026/27 tax year.

MoneyHelper - Tax on Savings Interest

Free, impartial money guidance from the UK government-backed service explaining how tax on savings works.

These links provide official government guidance. DepositScout does not endorse these external sites and they are provided for informational purposes only.

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