Print
Category: Personal Savings
Hits: 439

Savers have had little to cheer about since 2009 with interest rates evaporating before their eyes. 

But now there are good tidings at last - if not on rates, at least on protecting dwindling returns from tax.

Since April 6, all bar additional-rate taxpayers will be given a personal savings allowance, worth £1,000 to basic rate taxpayers and £500 to those paying the higher rate. It means millions of savers will be up to £200 a year better off.

The interest can come from money held in current accounts, National Savings and Investments products, peer-to-peer loans, corporate bonds and gilts - not just savings accounts.