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A new Personal Savings Allowance has been introduced so that basic rate tax payers do not have to pay tax on the first 1 000 of savings income and the first 500 for higher rate tax payers. For further information on our terms and conditions please refer to our booklet entitled A Guide to our Savings Range. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. AER stands for Annual Equivalent Rate and...
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