Halifax 2009 Too Many Savers Paying Unnecessary Tax

18 July 2009

Savers who rely on the interest they receive on their saving's deposits for a significant proportion of their income, have been hit hard by the recent decline in interest rates. Following analysis of its savings customer book, Halifax, the UK's largest savings provider, has released new figures for the first time, which show that only a third (33%) of savers over 65 are registered to receive gross interest. This illustrates that many pensioners may be missing out on the use of up to 20 per cent of their interest.

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