Certificate of Deduction of Tax

paulo13

I previously had an ING ISA (for the 07/08 tax year), and then transferred it to Abbey in April 08 (and am now in the process of transferring that to Natwest).

Anyway, I recently received a Certificate of Deduction Tax- for year ended 5 April 2009, saying that I received £18.23 of Gross/Net Interest. Even though I thought I had transferred everything, and when I log back in to the ING account, nothing is there.

Is this £18 waiting somewhere/ do I need to claim it back, or what does it mean?

thanks!

withnell

paulo13 wrote: »

I previously had an ING ISA (for the 07/08 tax year), and then transferred it to Abbey in April 08 (and am now in the process of transferring that to Natwest).

Anyway, I recently received a Certificate of Deduction Tax- for year ended 5 April 2009, saying that I received £18.23 of Gross/Net Interest. Even though I thought I had transferred everything, and when I log back in to the ING account, nothing is there.

Is this £18 waiting somewhere/ do I need to claim it back, or what does it mean?

thanks!

You were paid £18.23 of interest between 6th April 08 and the transfer date, and this would have been transfered with the capital to Abbey in April 08

paulo13

aha! thanks for clearing that up!

jem16

paulo13 wrote: »

I previously had an ING ISA (for the 07/08 tax year), and then transferred it to Abbey in April 08 (and am now in the process of transferring that to Natwest).

Anyway, I recently received a Certificate of Deduction Tax- for year ended 5 April 2009, saying that I received £18.23 of Gross/Net Interest. Even though I thought I had transferred everything, and when I log back in to the ING account, nothing is there.

Is this £18 waiting somewhere/ do I need to claim it back, or what does it mean?

thanks!

Why would you receive a tax certificate for an ISA? No tax is deducted from an ISA.

evenasus

I have used Quicken since the early 90's and every financial transaction I have made is on there.
Makes it very simple to look back for anything from a direct debit to interest & tax paid on interest.
Reconciling my bank statement is a doddle.

musehead

jem16 wrote: »

Why would you receive a tax certificate for an ISA? No tax is deducted from an ISA.

I received a tax certificate from KRBS today for my ISA, of course it only shows gross interest and is marked "tax free account". I think they must send one out to every account holder even if you only have an ISA with them.

BruceyBonus

evenasus wrote: »

I have used Quicken since the early 90's and every financial transaction I have made is on there.
Makes it very simple to look back for anything from a direct debit to interest & tax paid on interest.
Reconciling my bank statement is a doddle.

I've used Microsoft Money for a number of years too. Have every transaction I've ever made since around 2004. It is a very useful piece of software, especially as you can make reports for specific types of transactions so easily (e.g. I can work out my total interest for any particular tax year in less than 10 seconds).

BruceyBonus

For people who had Icesave accounts, from https://www.icesave.co.uk:
"For your information tax certificates for the tax year ending April 2009 will be delivered by post to customers shortly."

Geoffo_M

evenasus wrote: »

I have used Quicken since the early 90's and every financial transaction I have made is on there.
Makes it very simple to look back for anything from a direct debit to interest & tax paid on interest.
Reconciling my bank statement is a doddle.

So do I - great piece of software, and similarly been recording all transactions since early 90's. I'd be lost without it. All recs made easy - I even do monthly accounts & operate a budget.

Geoffo_M

I've found ING a pain to get a 975 out of. First of all, I wrote to them. They wrote back saying as per T&C, they don't reply to savings queries by post (How odd is that). They gave me an 0845 to ring. I rang that (24/4) & they said quarterly statements and certs were being sent out w/c 20/4. Nothing has arrived yet. This outfit looks a bit of a shambles, though I quite like their logging on security (keypad etc).