paragon on Birmingham Dailyhttps://birminghamdaily.co.uk/tags/paragon/Recent content in paragon on Birmingham DailyHugo -- gohugo.ioen-usSat, 13 Jun 2026 05:25:00 +0000£5,000 HMRC Charge to Impact 144,000 Savers by 2026https://birminghamdaily.co.uk/5000-hmrc-charge-to-impact-144000-savers-by-2026/Sat, 13 Jun 2026 05:25:00 +0000https://birminghamdaily.co.uk/5000-hmrc-charge-to-impact-144000-savers-by-2026/A recent Freedom of Information request by Paragon Bank reveals a sharp rise in the number of savers expected to pay £5,000 or more in income tax on their savings interest. HMRC forecasts that 144,000 people will owe at least £5,000 in tax on their savings interest in the 2026-27 tax year—a 173% increase over four years. Data shows that 52,700 savers faced this tax threshold in 2022-23, which more than doubled to 117,000 in 2023-24.