Yes, you are entitled to a Personal Savings Allowance. Basic rate tax payers can earn up to £1,000 interest pa tax free, or, if you’re a higher rate tax payer you can earn tax-free interest of up to £500 per annum across your savings, investments and deposit accounts.

For more information on Personal Savings Allowances, please visit

If you are unsure about the amount of tax free savings you can have, you should speak to an Independent Financial Advisor or your Accountant.