Personal Savings Allowance Calculator

How do I work out if I need to pay tax on my savings?

Our Personal Savings Allowance Calculator can help you discover whether you might need to pay tax on your savings. It’s quick and easy to use. And if you it looks like you will go over your PSA, we have information on how tax-efficient options like an ISA could support your plans. 

Our calculator will help give an idea of whether you will be over your PSA, based on your current income and money you hold in UK savings accounts. Your calculation won’t take into account any other form of interest you may be earning under your PSA. You will need to account for it separately. 

Visit our Personal Savings Allowance page if you want to know more about how PSA works.

Please remember, everyone’s savings situation is different. If you do need to pay tax on your savings, it's your responsibility to make sure it’s paid. Tax rules may change in the future.

To provide your result, we will assume

• The interest rate and balance for each of your accounts will stay the same for 12 months
• You're the sole account holder
• You'll have access to the interest within the same tax year
• Your non-savings income is over £17,570 a year.

Start calculating

Our 2-step calculator will help you understand if you may have to pay tax on any savings interest you earn.

All you need are the details for your savings accounts (including interest rate and balance) and your total annual non savings taxable income. For example, your salary, bonus payments, and pensions.

If you have any form of ISA, you don’t need to enter this into the calculator. That’s because any interest earned on these accounts is always free from income tax.