Savings Income Tax

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Tax Tutor.

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September 10, 2019 at 8:40 am #545718
jnewbury
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Hello,

Can you confirm that the starting rate band for savings income would count towards the basic, higher, and additional rate thresholds in the same way that the nil rate band does for basic and higher rate taxpayers?

Thanks
September 12, 2019 at 11:46 am #545934
Tax Tutor
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Yes it will indeed count towards the higher rate and additional rate thresholds – but for the higher and additional rate bands to be applicable the taxpayer would need to have a very large amount of savings income and possibly dividend income!
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