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Tax not deducted at source savings accounts?
TonyLedger
Posts: 8 Forumite
Hi my partner won't be paying income tax for a few years so want to take advantage of that and find savings accounts that don't deduct tax at source. Can anyone suggest any, or where I might find a Best Buys list of such accounts? Many thanks, Tony
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TonyLedger wrote: »Hi my partner won't be paying income tax for a few years so want to take advantage of that and find savings accounts that don't deduct tax at source. Can anyone suggest any, or where I might find a Best Buys list of such accounts? Many thanks, Tony
If your partners income is below the personal allowance then all they need to do is fill in a R85 form and return it to the bank or building society that holds the account. Tax will not then be deducted.
R85 available here http://www.hmrc.gov.uk/forms/r85.pdf
Nigel0 -
Every bank does this ,just ask0
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