UK Savers With Over £3,500 in Accounts Face New HMRC Tax Scrutiny
HMRC warns UK savers with more than £3,500 in savings about potential tax liabilities on interest exceeding Personal Savings Allowances. Basic-rate taxpayers get £1,000 tax-free interest, while higher-rate payers have £500. Exceeding limits triggers taxation. Savers should track accounts, consider tax-free options, and report accurately to avoid unexpected tax bills.
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