Many taxpayers overpaying tax on savings income

Current figures show that many taxpayers are overpaying tax on their savings income, paying 20% instead of the 10% starting rate. For 2012/13, the 10% starting rate is applied to the first £2,710 of non-dividend income, provided overall income does not exceed £2,710 plus the personal allowance. Typically this will apply to pensioners but anyone affected can reclaim the overpaid … Read More