From 6 April 2016, if you’re a basic rate tax payer you’ll be able to earn up to £1,000 in savings income tax free. Higher rate tax payers will be able to earn up to £500. Additional rate tax payers will not receive any allowance. This is called the Personal Savings Allowance. This means that most people will no longer pay tax on savings interest. Banks and building societies will top deducting tax from your account interest.
Please confirm you have read the important information below. Only when you have read the information and fully understand how the account works should you click to download the application form. We recommend that you print a copy of the documents for your records and keep them in a safe place.