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Paragon Bank forecasts 76% rise in average savings tax bill for additional rate taxpayers by 2026-27

By Public Technologies
  • Paragon Bank analysis forecasts average savings income tax of £6,540 for additional-rate taxpayers in 2026-27.
  • That represents a £2,830, or 76%, increase from £3,710 in 2022-23.
  • Basic-rate taxpayers face an average bill of £620, up 7% from £580 in 2022-23.
  • Higher-rate taxpayers’ average liability is forecast at £1,710, compared with £1,740 in 2022-23.
  • Fiscal drag is pushing more savers into higher tax brackets; additional-rate taxpayers receive no Personal Savings Allowance.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paragon Banking Group plc published the original content used to generate this news brief on November 10, 2026, and is solely responsible for the information contained therein.

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