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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