reclaiming tax on savings

r.kermali99 · 2 January 2009 at 10:46AM

hi

i've been a student the last few years so my income has been below the threshold for income tax, but my savings account still has tax deductions...is there any way i can reclaim this tax for previous financial years as well as stop it from being taxed until i graduate?

Just_landed · 2 January 2009 at 11:14AM

r.kermali99 wrote: »

hi

i've been a student the last few years so my income has been below the threshold for income tax, but my savings account still has tax deductions...is there any way i can reclaim this tax for previous financial years as well as stop it from being taxed until i graduate?

act

This link might help you get closer to what your looking for.
http://www.hmrc.gov.uk/rates/it.htm

agsnu · 2 January 2009 at 11:23AM

http://www.hmrc.gov.uk/incometax/tax-free-interest.htm

If you think you've paid too much tax on your interest you can claim it back. To do this you'll need to fill in a form R40 Tax Repayment Form. You'll have to do this for each year you think you paid too much tax.

To register to get interest on your savings tax-free you need to fill in form R85 Getting your interest without tax taken off and send it to your bank or building society. Some banks and building societies also let you register by phone.

LGG_2 · 2 January 2009 at 5:06PM

i did this a couple of years back. i think u can only claim for the last 5 years though. i just got copies of statements from my building society showing the tax i paid and just sent them off with a cover note to the tax office and it was all sorted

reclaiming tax on savings

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