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Am I due a tax bill on my savings after NS&I changes?


With the change to tax on interest mentioned in your article last week I think that I may exceed the £1,000 Personal Savings Allowance.
I have a state pension and two small company pensions which total approximately £11,000, plus I have NS&I Guaranteed Growth Bonds and other savings on which interest may total over £1,000, causing me to potentially incur tax. 
This hasn t been a concern before as some money was in Isas but as rates have dropped I have moved to other savings accounts.
As my income is below the Personal Tax Allowance of £12,570, will the balance of this be offset against my interest, and do I owe any money? – P.T., via email ....

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Personal Tax Allowance 'easiest target of all' as Rishi Sunak looks to cover Covid costs


Mr Stevenson went on to provide a checklist of what he will be watching out for.
Among the topics on the list was Personal Tax Allowance rules - something which he said was high in terms of the probability of it happening.
This is probably the easiest target of all because freezing the levels at which individuals start to pay tax and move into higher tax bands is a ‘stealth tax’.
Like inflation, it is a way of dipping into people’s pockets without many of them noticing.
The £6billion potential increase to Government revenues is not to be sniffed at either. ....

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