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Changes to the way interest is paid and to ISAs

Government changes

From 6 April 2016 there are some important changes to the way interest is paid and to ISAs.

Interest to be paid gross

Financial Services Compensation Scheme

From 6 April 2016 the government is introducing the Personal Savings Allowance and we'll start paying interest to you gross. This means we'll stop automatically taking 20% in income tax from the interest paid on non-ISA savings and current accounts. This is a change to your Terms and Conditions.

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Changes to ISAs

From 6 April 2016 the government is introducing additional ISA flexibility and an innovative finance ISA. Santander's ISA range will continue to work the way it does now and we won't offer additional flexibility or an innovative finance ISA but we do have more information on the changes.

Find out more

Video: government changes explained

We've put together a short video to help you understand more about the government changes coming in to effect from 6 April 2016.

Watch our video

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