Have you got a savings strategy to maximise your returns? But with so many accounts to choose from, all with differing rates and conditions, finding the best home for your cash can be difficult. In reality, tax on savings interest would be a problem for any money held outside an Isa. Once you earn interest over £1,000 a year (for most basic-rate taxpayers) or £500 (for higher-rate payers), returns are subject to income tax, due to the personal savings allowance. “For the remaining £20,000, they could use their Isa allowance – Trading 212 Instant Access Cash Isa pays 4.38pc AER, generating interest of £876 a year.