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Personal Savings Allowance (PSA)Your Personal Savings Allowance is the total amount of interest you can earn in a tax year without paying tax. If you're...HMRC will normally collect the tax by changing your tax code. Banks and building societies will give HMRC the information...You only need to pay tax on any interest you earn above your Personal Savings Allowance. You are responsible for making...Banks are no longer required to deduct tax from the interest earned on your account. For more information or guidance on...Yes. It affects everyone with a non-ISA savings or current account that pays credit interest.
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