UK Tax on interest calculator

You can use this simple calculator to calculate how much tax you are required to pay on interest earnt given your salary.


Calculated Tax

Your calculated tax due on the interest earnt will be shown below.

Gross Salary
Personal Savings Allowance
Total tax

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The current allowance rates, from HMRC . Assuming you earn over £17,500 a year your tax free savings allowance is given below, any savings earnt above this allowance (outside of ISAs) is taxed as income tax.

Income tax band Savings allowance
Basic Rate £1,000
Higher Rate £500
Additional Rate £0

When calculating your tax your savings income is added to your salary. The savings allowance is then applied to tax component from the savings income.

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