Martin Lewis: £10k Savings in UK Accounts Could Trigger Tax Rise
In September 2025, Martin Lewis, the UK’s well-known money-saving expert, raised an important warning. He said that having just £10,000 in a savings account could now push many of us into paying more tax than before. Why? Because interest rates have gone up sharply in the last two years. In 2021, the Bank of England’s base rate was only 0.1%. By September 2025, it stands at 5.25%. That means savings earn more interest, but it also means more of us are crossing the tax-free limits without even noticing.
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