Handed in a "R85" What Next?

Mikeyorks

ARM10 wrote: »

We collect R85 forms and send them off to HMRC who conduct checks and approve you for gross interest. You'll have to call HMRC to check the status, we don't have anything to do with this and it's up to them.
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That's complete and utter drivel ....... so probably most of the rest is. HMRC don't see R85s and certainly don't pre-authorise.

In respect of interest deducted thus far in 2011-12 ......... post #7 implies Barclays (as Halifax and a few others - but it's not universal) will refund. But you'll need to wait and see the proof as most Bank staff seem more than a bit bemused at even the basics of how their systems operate.

antonic

It is complete drivel Mikeyorks !

I used to do investor compliance for HMRC on the R85 scheme and all the bank has to do is check that the form has been completed correctly and set the gross interest signal on their computer system and nothing else.

Mikeyorks wrote: »

That's complete and utter drivel ....... so probably most of the rest is. HMRC don't see R85s and certainly don't pre-authorise.

In respect of interest deducted thus far in 2011-12 ......... post #7 implies Barclays (as Halifax and a few others - but it's not universal) will refund. But you'll need to wait and see the proof as most Bank staff seem more than a bit bemused at even the basics of how their systems operate.

Mikeyorks

antonic wrote: »

....and all the bank has to do is check that the form has been completed correctly and set the gross interest signal on their computer system and nothing else.

And, of course, reflect the fact they're paying gross interest on their annual TDSI returns to HMRC!

ARM10

I called Barclays telephone banking again earlier today (after I left the branch, but before some of your posts) as I was feeling irate and wanted clear answers. The customer rep gave me a different set of facts!

Q. I filed the first R85 forms in branch on 20th October, how long should it take for this to take effect ? The branch told me it could be 4 weeks or more.

A. The forms are sent to our head office where they're processed. If the branch told you it takes 4 weeks, then I suppose that's how long it will take.

Q. Will I have interest tax deducted from previous months during this financial year reimbursed ?

Yes you will.

Q. Can you tell me whether the R85 forms I filed are currently being processed at your head office or not ?

No, but the system tells me you're not currently registered for gross interest and there's nothing to suggest head office has received any forms. You should receive a letter from us if we register you.

........................

If Barclays Bank haven't resolved the problem in a week's time, I will file a formal complaint! It costs money to dial the telephone banking's 0845 number and I've spent the better part of an hour at the local branch :mad:

grizzly1911

After so much messing around on three occasions, being given poor advice,I would go straight to formal complaint now.

I would also be requesting that they back date the gross interest to the date you submitted the R85s plus something for your wasted time and effort.

I had a similar problem with the Spanish Bank, even though I completed account opening on line, ticked gross and submitted R85s that I had down loaded from HMRC. They backdated it all as it was their fault.

John_Pierpoint

ARM10 wrote: »

I went into a Barclays Bank branch today and asked the following questions:-

Q. I filed several R85 forms but you deducted tax from the latest interest payment, what happened ?

A. The R85 forms can take several weeks to process, sometimes 4 or more weeks so it won't have taken effect.

Q. Can you check on your system whether gross interest is activated for my accounts as of today ?

A. No, but I'll have a look. I]looks at my accounts for the latest interest payments, then shows me on the screen that tax was deducted[/I. You'll have to wait until the next interest payment to see if it will be paid gross, I can't tell from the system.

Q. Will you refund tax deducted for previous months during this financial year when you've processed the forms ?

A. No, you will have to claim this back from HMRC at the end of the financial tax year on your self-assessment.

Q. I filed a R85 form with HSBC on the same day as those I filed with you, and they paid gross interest. For Santander I did this using online banking and it took effect immediately. Why so long for Barclays ?

I don't know how other banks work. We collect R85 forms and send them off to HMRC who conduct checks and approve you for gross interest. You'll have to call HMRC to check the status, we don't have anything to do with this and it's up to them.

Q. How often do you send mail ?

We collect mail in branch during the week and don't send them off until the end of the week on Friday.

:(:(

Effectively no help at all, but perhaps other members can tell me if the information I was provided is factually accurate for Barclays Bank ?

I asked to fill in another set of R85 forms in case the original ones were lost in the post etc and left the branch. I will update again next month when interest is due to see if it's paid gross.

That sounds like the Barclays I know and hate [and I'm a share holder]:eek:

First thing you need to ascertain is which call centre you are talking to. I've probably spoken to most of them.

Eventually I found an 0800 number that goes right through to intelligent life, with the authority to make decisions.

This sounds like low level incompetence, that 18 months ago would be under the control of Leicester.

ARM10

grizzly1911 wrote: »

After so much messing around on three occasions, being given poor advice,I would go straight to formal complaint now.

I would also be requesting that they back date the gross interest to the date you submitted the R85s plus something for your wasted time and effort.

I had a similar problem with the Spanish Bank, even though I completed account opening on line, ticked gross and submitted R85s that I had down loaded from HMRC. They backdated it all as it was their fault.

Still not set up for gross interest!! :mad: I sent a formal complaint letter today - will update if I receive a response.

ARM10

Update

Tax on interest refunded today. No confirmation letter received and no response to the formal complaint.

I filed R85 forms 3 times at 2 different branches in total. I get the feeling they *MAY* have gotten lost on the 1st attempt, and on the 2nd attempt the staff were daft enough to send them to HMRC instead of Barclays head office :rotfl:. This means nothing was actually processed until the 3rd time!

ARM10

Barclays called to say they received a complaints letter and wanted to discuss the contents. Didn't say anything of much substance, simply:-

1. Barclays don't routinely send letters to confirm registration of gross interest, but they will send me one on this occasion.

2. Barclays have no explanation for the delays, but were sorry it happened.

3. It isn't possible to check the tax status using online banking other than at the next interest payment. They have no plans to change this.

4. It isn't possible to change the tax status online or through telephone banking. They have no plans to change this.

No compensation for the inconvenience and no explanation. I should've expected this would be a waste of time

I named the local branches and a staff member who handled my R85 on the complaints letter. Banks in many other countries would have investigated the matter and taken disciplinary action (suspension, reduction in wages, or termination of employment). Their "these things happen, so let's just let it pass" attitude is really disappointing.

Mikeyorks

ARM10 wrote: »

Their "these things happen, so let's just let it pass" attitude is really disappointing.

Borne of necessity I'm afraid. Otherwise they'd be seriously depleted of staff if they took your suggested action!