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You do not pay tax on your savings interest if you're on a low income.

• How much tax you pay

  Most people can earn some interest from their savings without paying tax.…

• Previous tax years

  If you’re self-employed and need to declare savings interest from a…

Types of ISA available, the tax-free ISA allowance, withdrawing money and transferring ISAs.

• Overview

  You can save tax-free with Individual Savings Accounts (ISAs). In the 2025…

• How ISAs work

  There are 4 types of Individual Savings Accounts (ISA): cash ISA stocks…

• How to open an ISA

  You can get an Individual Savings Account (ISA) from: banks building…

• Withdrawing your money

  You can take your money out of an Individual Savings Account (ISA) at any…

• Transferring your ISA

  You can transfer all or part of the savings in your Individual Savings…

• If you move abroad

  If you open an Individual Savings Account (ISA) in the UK then move abroad…

• If you die

  Your ISA will end when either: your executor closes it the administration…

• Inheriting an ISA from your spouse or civil partner

  ISA savings go to the named beneficiary in the will. If your spouse or…

Get help with savings if you're on a low income (Help to Save) - how it works, what you'll get, eligibility, how it affects your benefits and how to apply online.

• How it works

  Help to Save is a type of savings account. It allows certain people…

• What you’ll get

  You can earn 2 tax-free bonuses over 4 years. You’ll get any bonuses…

• Eligibility

  You can open a Help to Save account if you’re receiving Universal Credit…

• How it will affect your benefits

  Saving money though a Help to Save account could affect your eligibility…

• How to apply

  You’ll need to sign in to set up a Help to Save account. If you do not…

How children's savings accounts are taxed, and the £100 limit on savings given by parents

The following tables will be updated to include 2015/16 data: Table 9.7 – Apr – the number of individuals subscribing by type, value, and income, Table 9.8 – Apr – the number of individuals subscribing by type, age, and gender,...

• Updated: 29 March 2018

HMRC statistics on Individual Savings Accounts, Child Trust Funds, and Help to Save accounts. This will replace the separate publications on Individual Savings Accounts and Help to Save accounts.

• Updated: 8 June 2021

On 6 April 2016 a tax-free Personal Savings Allowance (PSA) will be introduced for savings income (such as interest) paid to individuals.

• Updated: 1 April 2016

HMRC statistics on Individual Savings Accounts, Child Trust Funds and Help to Save accounts.

• Updated: 18 September 2025

This Tax Information and Impact Note is about individuals with savings income, who will be entitled to the personal savings allowance (PSA) from April 2016.

• Updated: 9 December 2015

How to open a Junior ISA for your child - including managing and adding money to an account.