UK Savings Tax Calculator
Compare 2026/27 and 2027/28 tax on savings interest
Estimate Personal Savings Allowance and savings tax under current rules and the proposed rates from 6 April 2027.
From 6 April 2027
Savings Income Tax rates of 24% / 44% / 49% were announced at Budget 2026 for the 2027/28 tax year. They are proposed, subject to legislation from 6 April 2027, not current 2026/27 rates. This calculator shows both years so you can compare.
Annual income that is not savings interest (for example salary or pension).
Common incomes:
Taxable interest outside ISAs. Do not include ISA interest.
Common interest amounts:
Your estimated savings tax
From April 2027
Under the proposed rates, from April 2027 you could pay £40.00 more tax on your savings.
2026/27 (current)
£200.00
Savings rates 20% / 40% / 45%
2027/28 (from April 2027)
£240.00
Proposed savings rates 24% / 44% / 49%
Estimate for England, Wales and Northern Ireland. The amber figures use rates that start on 6 April 2027, not current tax year rates. ISA interest is tax-free and should be excluded.
2027/28 breakdown
Allowances
Tax
Key savings rates
20% → 24%
Basic from Apr 2027
40% → 44%
Higher from Apr 2027
45% → 49%
Additional from Apr 2027
About the Savings Tax Calculator
Use this UK savings tax calculator to compare Income Tax on savings interest under current 2026/27 rules and the new savings rates proposed from 6 April 2027.
Enter employment or other taxable income and your annual savings interest outside ISAs. The calculator estimates Personal Savings Allowance, taxable interest, savings tax for both years, and the yearly and monthly difference.
Announced at Budget 2026 and proposed from April 2027, savings income would be taxed at 24%, 44% and 49%. The Personal Savings Allowance and starting rate for savings stay the same. These are proposed rates, subject to legislation in Finance Bill 2026-27. They do not apply for 2026/27.
Official sources: HMRC changes to property and savings income tax rates, Budget 2026 overview of tax legislation and rates, Annex A: rates and allowances, and tax-free interest on savings (PSA). Historical Budget 2025 guidance, which set 22%, 42% and 47% before these rates were increased: HMRC technical note.