Understanding the UK Personal Savings Allowance and Strategies to Optimise It
The Personal Savings Allowance (PSA) is a key component of the tax system introduced in April 2016. It offers taxpayers the opportunity to earn tax-free interest on their savings and investments, thereby reducing their tax liability. In this article, we will explore what the Personal Savings Allowance is, how it works, and discuss strategies to make the most of this valuable tax benefit.