At Glasgow Credit Union, we’re committed to helping you make the most of your money — and one of the smartest ways to do that is by saving tax-free.
Whether you're building an emergency fund, saving for a future expense, or simply growing your savings, a tax-free savings option like a Cash ISA from Glasgow Credit Union is an ideal way to achieve your financial goals.
What Does "Tax-Free Saving" Mean?
Tax-free saving means you do not pay income tax on the interest or dividends you earn from your savings — as long as they’re held in a qualifying account, like a Cash ISA. Here’s how tax-free savings from a Cash ISA could benefit you:
- You keep 100% of the interest/dividends earned
- No impact on your Personal Savings Allowance
- Ideal for both regular savers and those with lump sums
- Helps you build long-term savings more efficiently
Example:
If you saved £10,000 in a standard savings account earning 3% interest, a basic-rate taxpayer could lose a portion of the £300 interest to tax. With a GCU Cash ISA, you’d keep the entire £300 tax-free.