2026/27 Tax Year

Savings Interest Tax Calculator

Cash savings feel simple until interest starts leaking into tax. This page estimates what survives after the Personal Allowance, the starting rate for savings, and the Personal Savings Allowance have all had their say.

Scope note: this calculator uses the 2026/27 UK savings-interest rules and England, Wales, and Northern Ireland band structure for estimating how your savings interest is taxed.

Your taxable income

Salary, pension income, rental income, or other taxable income before savings interest.
Optional, but useful because dividend income can reduce your Personal Savings Allowance.
Estimated tax due on your taxable savings interest
£0 After-tax savings interest kept: £0
After-tax savings interest kept£0
Personal Savings Allowance used£0
Starting rate for savings used£0
Personal Allowance used against savings£0
PSA tierBasic-rate PSA: £1,000
Interest taxed at 20%£0
Interest taxed at 40% / 45%£0 / £0

What this means

Interest is taxed after your non-savings income has already used up part of the band structure. That is why a modest amount of savings interest can still be fully sheltered for one person and partly taxable for another.

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What the zero-rate layers do

Savings interest can be covered in several stages. Any spare Personal Allowance hits first, then the starting rate for savings if your other income is low enough, then the Personal Savings Allowance based on your overall tax band.

Sources and assumptions

GOV.UK tax-free interest on savings guidance HMRC income tax rates and allowances

This page estimates tax on taxable savings interest for the 2026/27 tax year. It is not a full self-assessment calculation and does not attempt to cover every special relief.