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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4791
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How much tax would you pay on savings of £456,732.pp

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How much tax would you pay on savings of £456,732.pp
Hello, I'm Keith and happy to help you with your question.

Before I can help you I need to know in what type of savings is this sum invested?
Customer: replied 4 years ago.
Its a easy access on line savings account
Right what is the value of the interest annually?
Customer: replied 4 years ago.
Fourteen hundread pounds
Taxed at 20% = GBP 280. So the tax on that would be GBP 280. If you have no other source of income and are entitled to a personal allowance then there would be no tax due at all.
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