💨 Abstract

UK savers could receive unexpected HMRC bills due to rising interest rates and increased tax thresholds. Basic rate taxpayers can earn £1,000 tax-free annually, while higher rate taxpayers have a £500 allowance. Those with over £3,500 in a fixed-rate account could exceed their allowance. Check your savings now to avoid a surprise bill. Visit the UK Government website for more information.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖