More of us are falling into the savings tax trap - is it fair?
Jun 28, 07:36 PM
You find a decent paying savings account, diligently squirrel away your money, watch it grow… only for the taxman to come along and swipe a chunk.
And since savings rates have been much better in recent years, the amount HMRC is taking in in savings tax revenue has gone up significantly
It's only going to increase according to estimates, to the tune of £10.37billion in 2024/25, up from £6.6billiion in 2023/24 - and £1.2billion in 2021/22.
So, how can you dodge the trap? This week, Georgie Frost, Helen Crane and Lee Boyce look at this growing revenue spinner.
It also means taking advantage of Isas is key - and we're very keen on one tax-free account in particular.
And sticking with savings, this week Helen explains the case of a Barclays customer who had a stroke - recovered better than expected - but was then locked out of his account with £100,000 in it for nearly a year.
There is a mobile phone swiping epidemic in the country - but what is it the criminals are really after? Is it the handset, or something else?
We explain all, alongside businessman and This is Money columnist Dave Fishwick, who interviewed one of the gang leaders.
And sticking with Dave... he gives his views on what needs to the happen after the general election on 4 July for the North.
It's not just our phones being stolen… motor theft too is on the rise. A former police interceptor gives his tips on how to keep your vehicle safe.
Lastly, what is the magic number of salary to make you feel rich? Recruiter Indeed believes it has found the answer...
And since savings rates have been much better in recent years, the amount HMRC is taking in in savings tax revenue has gone up significantly
It's only going to increase according to estimates, to the tune of £10.37billion in 2024/25, up from £6.6billiion in 2023/24 - and £1.2billion in 2021/22.
So, how can you dodge the trap? This week, Georgie Frost, Helen Crane and Lee Boyce look at this growing revenue spinner.
It also means taking advantage of Isas is key - and we're very keen on one tax-free account in particular.
And sticking with savings, this week Helen explains the case of a Barclays customer who had a stroke - recovered better than expected - but was then locked out of his account with £100,000 in it for nearly a year.
There is a mobile phone swiping epidemic in the country - but what is it the criminals are really after? Is it the handset, or something else?
We explain all, alongside businessman and This is Money columnist Dave Fishwick, who interviewed one of the gang leaders.
And sticking with Dave... he gives his views on what needs to the happen after the general election on 4 July for the North.
It's not just our phones being stolen… motor theft too is on the rise. A former police interceptor gives his tips on how to keep your vehicle safe.
Lastly, what is the magic number of salary to make you feel rich? Recruiter Indeed believes it has found the answer...