Allowance Archives - Newplanetpictures

What is the Personal Savings Allowance?

13 May 2026 by new planet pict

Every tax year, which runs from April 6 to April 5 the following year, most people can receive a certain amount of savings interest without having to pay tax on it, known as your Personal Savings Allowance. Prior to 2016, interest from savings was paid with tax taken off unless you specifically asked for the … [Read more…]

What is the Money Purchase Annual Allowance?

2 September 2025 by new planet pict

Melanie Wright is money editor at Rest Less. An award-winning financial journalist, she has written about personal finance for the past 25 years, and specialises in mortgages, savings and pensions. She is a former Deputy Editor of The Daily Telegraph’s Your Money section, wrote the Sunday Mirror’s Money section for over a decade, and has … [Read more…]