What is my personal savings allowance?
For Basic Rate Taxpayers
You will be able to earn £1,000 in savings interest before paying tax.
For example, a basic rate taxpayer would need a savings pot of £50,000 earning 2% interest before the £1,000 limit would be exceeded.
For Higher Rate Taxpayers
You will be able to earn £500 in savings interest before paying tax.
For Additional Rate Taxpayers
If you are an additional rate taxpayer (45%), there is no allowance applicable.
More information about the HMRC guidance can be found here.