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Introduced in April 2016, the Personal Savings Allowance changed how savings interest is taxed for most UK adults. Before that, banks deducted 20% tax at source. Now, interest is paid gross and most savers owe nothing on it — but with rates at current levels, a growing number are exceeding their all

Each age group has different needs and goals, but regardless of age, it is critical to understand how to invest money in the UK to grow your money. If you require more information, please see the guide here.

Match the savings account type to when you’ll need the money: easy-access for emergency funds and goals within 12 months; notice accounts for 1-2 year horizons; fixed-rate bonds for money you won’t touch for a defined period.