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The original was posted on /r/ukpersonalfinance by /u/Sen-we45 on 2023-07-02 20:53:39+00:00.

With the very high savings interest rates I want to lock more of my money away with a fixed term savings account. However if I do I will be over the £1000 interest personal savings allowance limit, (I couldn’t find anything online about it) will this impact how much tax I pay on my normal salary? I’ve read the 20% tax I will pay over £1000 will be automatically deducted from my payslip, if so will I end up worse off by being given a different tax code? For reference I earn £35k and would be making about £1400 in interest a year if I lock away more money. Thanks