Policy paper

Abolishing the 10% rate of tax on savings income - a fact sheet

This fact sheet provides information on how the new 0% rate works and who will benefit.

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Documents

Abolishing the 10% rate of tax on savings income

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Details

The government announced at Budget 2014 that from April 2015, it is abolishing the 10% ‘starting-rate’ of tax for savings income and replacing it with a new 0% rate. The government will also increase the band of savings income that is subject to the new 0% rate to £5,000.

This 2-page fact sheet provides information on how the new 0% rate works and who will benefit.

Published 19 March 2014