What is the PSA (Personal Savings Allowance)?

Interest earned on investments with Landbay is eligible for the PSA (Personal Savings Allowance).

The PSA allows every basic rate tax payer to earn tax-free interest of £1000.

However, this will depend on your individual circumstances – for example higher rate tax payers are only eligible for a £500 PSA and additional rate tax payers are not eligible for a PSA.

In addition to the PSA, Landbay offers an IFISA (Innovative Finance ISA). You can invest up to £20,000 into a Landbay Innovative Finance ISA this tax year (2017-18). 

If you are in any doubt about your tax obligations, please seek independent financial advice.

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.