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Claiming tax relief on Icesave account?
Suzkin
Posts: 517 Forumite
I've received my cheque from the FSCS, but no income tax deduction statement. They said they couldn't do this for the zillions of ex-customers etc.
I was told by FSCS that if I send my investment letter and covering letter etc. to the Inland Rev. they will do a calculation from the net amount to reach the gross amount, and then send me the difference.
I was told that this info. would be sufficient.
I thought the Inland Rev. required the tax deduction statement?
In the case of Icsave, is this the correct information? Anyone know?
I was told by FSCS that if I send my investment letter and covering letter etc. to the Inland Rev. they will do a calculation from the net amount to reach the gross amount, and then send me the difference.
I was told that this info. would be sufficient.
I thought the Inland Rev. required the tax deduction statement?
In the case of Icsave, is this the correct information? Anyone know?
0
Comments
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This used to be true but not for the past few years. Calculate the tax paid yourself (tax at 20% will be a quarter of the net interest you received to within 1p.) and complete a form R40
"Please do not send vouchers, certificates or any other documents with your form."
http://www.hmrc.gov.uk/tdsi/claim-tax-back.htm
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Thanks very much - do you know how to claim tax back on pay??
I only earned approx. £1,500 this financial year (so far) April 2008-09, and have been taxed on my earnings.0 -
Why don't you ring your local tax office for advice? I've always found them helpful if you're straight with them.0
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Thanks very much - do you know how to claim tax back on pay??
I only earned approx. £1,500 this financial year (so far) April 2008-09, and have been taxed on my earnings.
Assuming your tax code is correct, they should work this out in April after the P60 calculations, and send a cheque for the tax you've paid.
If your tax code is incorrect (such as BR), you should first ask your employer to correct it. If it then works out that you have overpaid, it should be refunded on the next payment, or if not, as above in/after April.
As above though, your tax office, if you can get through to them, should be able to help.0 -
Thanks very much - do you know how to claim tax back on pay??
I only earned approx. £1,500 this financial year (so far) April 2008-09, and have been taxed on my earnings.
Get your P60 form at the end of the tax year and you can use the figures on that to reclaim through the R40 form.
Alternatively you can get a form that you give to your employer that means you don't pay tax, and that should adjust back anything taken so far by PAYE0
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