@antonia_investing: Your savings statement will never show you this number. From April 2027, tax on savings interest is due to rise to 24% for basic-rate taxpayers, 44% for higher-rate and 49% for additional-rate, subject to the legislation passing. It only applies to interest above your personal savings allowance, which stays at £1,000 a year for basic-rate taxpayers and £500 for higher-rate. Our example is for illustration only. It assumes a higher-rate taxpayer with £50,000 earning a steady 4% for 20 years, with interest left to grow, the same rate in both accounts, and the whole amount in an ISA from the start. In reality, savings rates are variable, tax rules can change, and you can only add up to £20,000 a year to ISAs, so a pot this size takes a few tax years to move across. Our ISA rate checker compares your current cash ISA with a selection of providers. It doesn’t cover the whole market, and some of the providers shown are partners who pay us. Did you know the tax on savings interest was going up a second time? For educational purposes only. This does not provide financial, tax or investment advice. Tax treatment depends on individual circumstances and rules may change. Consider speaking to a regulated financial adviser. Sources: HM Treasury, Budget 2026 (28 October 2026); ICAEW, Budget: tax rates on property and savings income increased; Which?, Autumn Budget 2026: cash Isa U-turn; Moneyfacts easy access savings data

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Monday 02 November 2026 15:47:57 GMT