Personal Savings Allowance Calculator
Estimate how much interest you can earn before paying UK savings tax, and how much tax may be due in 2026/27.
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Change the numbers below to see how they affect your estimate. Nothing needs to be saved.
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Try this calculatorAbout this calculator
Estimate how much interest you can earn before paying UK savings tax, and how much tax may be due in 2026/27.
How this calculator works
What is the Personal Savings Allowance?
For 2026/27 basic-rate taxpayers generally have a £1,000 Personal Savings Allowance, higher-rate taxpayers £500, and additional-rate taxpayers £0. The allowance is shared across taxable interest from your accounts, rather than applying separately to each account.
How to use the estimate
Enter your expected interest from the account you are checking and the taxable interest already earned or expected from other accounts in the same tax year. Choose your applicable income-tax band. The calculator estimates savings interest above the allowance and a simple tax amount at your selected band rate.
Worked example
A basic-rate taxpayer with £1,400 in total taxable savings interest exceeds the £1,000 allowance by £400. At 20%, the simplified tax estimate is £80. Interest inside a tax-free ISA is normally excluded.
What this simplified estimate does not cover
It does not automatically work out your actual Income Tax band, marginal tax band changes due to savings interest, the starting rate for savings (which may be up to £5,000 at 0% for low non-savings incomes), unused Personal Allowance or unusual income arrangements. Scottish residents generally pay UK-wide rates on savings interest rather than Scottish non-savings rates. If your tax band changes when interest is included, your actual bill can differ. This is not a replacement for HMRC calculations.
Frequently asked questions
Does ISA interest count?
Interest earned in an eligible ISA is tax-free and does not count towards your Personal Savings Allowance.
Can I have a separate £1,000 allowance on every account?
No. The allowance applies to combined taxable savings interest in the tax year.
Does the starting rate for savings affect my bill?
Yes, for some people with low non-savings income; this simplified tool excludes that separate 0% band.
What if I move into a higher tax band?
Savings income can affect your tax band and allowance; check HMRC's rules rather than relying on a fixed-band estimate.
Guides for your next step
- Personal Savings Allowance explained: how much savings interest is taxable?
Learn the 2026/27 UK savings interest allowances, how interest across accounts is combined and when extra tax rules apply.
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A like-for-like UK comparison of mortgage overpayments, savings after tax, cash access and lender penalties, with two worked examples.