Warning for savers as 300,000 more people set to pay tax on their savings
Around 300,000 more savers will have to pay tax on their savings interest than five years ago, stark new figures reveal.
The number has jumped from 3.06 million in 2020–21 to 3.35 million this year, according to new information obtained under Freedom of Information laws.
Karl Matchett5 August 2025 16:00
Is it better to overpay your mortgage or invest the money?
It may be easier said than done, but the process of improving your financial standing over time can really be summarised in two steps:
First, spend less than you earn. And second, put the excess earnings to good use.
The first step is a matter of budgeting, and your options are simple: cut costs or increase income. At step two, your options become diverse and complex, and your choices can lead to very different outcomes over the long term.
These can both be…
