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State pensioners can save £18,570 tax free with a HMRC allowance. BBC and ITV star Martin Lewis explained all on an episode of The Martin Lewis Money Show Live on ITV in March.

The 52-year-old said: “So imagine someone has £6,000 of savings interest a year. Well clearly, if that’s all they had then all of it would be tax-free because of your tax-free Personal Allowance.

"We could also add in earnings of £7,570, that’s £12,570, all of that would be tax-free, that’s your Personal Allowance. Now, let’s move that up to £12,570 and say the earnings take up all your Personal Allowance.

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"Well, the Starting Savings Rate in this circumstance, you can have £5,000 in savings interest tax-free on top of yo

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