Savings Tax Increase in 2027: Calculate Your Impact
Markets & Money Today | 2 Min News | The Daily News Now! - A podcast by The Daily News Now! - Fridays
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Starting April 2027, the tax on savings income increases by 2% for basic-rate taxpayers, 42% for higher-rate, and 47% for additional-rate. A new online tool helps savers calculate their potential tax bill on savings interest, considering their total savings, interest rate, and tax bracket. This tool is particularly useful amidst the recent tax rate hike on savings, enabling individuals to plan for the new financial landscape.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
